Energy Select Sector SPDR
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|It was a first positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 1.48 points, or 2.21%, and closed at 68.43 on Friday, March 09, 2018. Weekly volume was -16% below average. |
Long-term trend: [See XLE long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 49.93 and reached 78.45 on December 12, 2016. XLE gained -28.52 points, or -57.12%, in 46 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 65.90 and resistance is at 78.38. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.
Medium-term trend: [See XLE medium-term trend chart]
A medium-term downtrend had started on January 24, 2018 at 78.39 and reached 64.45 on February 9, 2018. XLE lost 13.94 points, or 17.78%, in 2 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (66.08) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See XLE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 9, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See XLE short-term trend chart]
A short-term uptrend had started on March 2, 2018 at 65.65 and reached 68.51 on March 9, 2018. XLE gained -2.86 points, or -4.36%, in 7 days. Price is near the trend high.
Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since February 23, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.