The Greedy Trader Weekly Analysis
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Energy Select Sector SPDR
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Summary:
Weekly :
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal linePrice has crossed below the 50 Day Moving AverageThe price touches the lower Bollinger Band
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It was the negative week for the Energy Select Sector SPDR (XLE). During the week, the XLE dropped -4.19 points, or -5.43%, and closed at 72.96 on Friday, October 12, 2018. Weekly volume was 67% above 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 79.42 on May 22, 2018. XLE gained -29.49 points, or -59.06%, in 121 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 69.60 and resistance is at 79.23. 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 uptrend had started on August 21, 2017 at 61.80 and reached 79.42 on May 22, 2018. XLE gained -17.62 points, or -28.51%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 66.83 and resistance is at 82.08. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern 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 July 27, 2018. The distance between MACD and the signal line is low, but getting bigger. 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 August 15, 2018 at 71.70 and reached 78.36 on October 9, 2018. XLE gained -6.66 points, or -9.29%, in 55 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 71.90 and resistance is at 78.65. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The price touches the lower Bollinger Band. 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.73
Williams' Percentage Range (W%R) 74.90
Lane's Stochastic (%D-Slow) 37.39
Greed/Fear Indicator (GFI) 31.73
Moving Average Converg./Diverg. (MACD) 0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.22
Williams' Percentage Range (W%R) 72.70
Lane's Stochastic (%D-Slow) 61.13
Greed/Fear Indicator (GFI) 45.02
Moving Average Converg./Diverg. (MACD) 0.93
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 82.08
Yearly Trendline Resistance 79.23
Weekly Trendline Resistance 78.65
Upper Bollinger Band 78.20
Parabolic System 77.81
Weekly Stochastic Crossing 76.28
20 Day Moving Average 75.83
Monthly Trendline Resistance 75.27
50 Day Moving Average 74.82
Daily Stochastic Crossing 73.77
Price 72.96
Lower Bollinger Band 72.77
Weekly Trendline Support 71.90
Monthly Trendline Support 69.91
Yearly Trendline Support 69.60
Quarterly Trendline Support 66.83
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 71.78
Low Date 09/07/2018
High 78.36
High Date 10/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 78.65
Support 71.90
Low 71.70
Low Date 08/15/2018
High 78.36
High Date 10/09/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 75.27
Support 69.91
High 79.42
High Date 05/22/2018
Low 71.70
Low Date 08/15/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 82.08
Support 66.83
Low 61.80
Low Date 08/21/2017
High 79.42
High Date 05/22/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Valid
Resistance 79.23
Support 69.60
Low 49.93
Low Date 01/20/2016
High 79.42
High Date 05/22/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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