The Greedy Trader Weekly Analysis
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Energy Select Sector SPDR
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Summary:
Weekly :
Daily :Price has crossed below the 50 Day Moving AverageBroken trend resistance lineDaily  MACD line has moved above its signal line
Move cursor over the icon to see details.

It was the negative week for the Energy Select Sector SPDR (XLE). During the week, the XLE gave back -0.27 points, or -0.36%, and closed at 75.67 on Friday, July 06, 2018. Weekly volume was -22% 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 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 67.64 and resistance is at 78.37. 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 65.63 and resistance is at 80.88. 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 above its signal line since April 20, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See XLE short-term trend chart]
A short-term downtrend had started on May 22, 2018 at 79.42 and reached 73.14 on June 25, 2018. XLE lost 6.28 points, or 7.91%, in 34 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (72.92) 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 short-term trend.

Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily technical indicators are neutral.

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

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) 57.48
Williams' Percentage Range (W%R) 59.20
Lane's Stochastic (%D-Slow) 62.39
Greed/Fear Indicator (GFI) 53.55
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.19
Williams' Percentage Range (W%R) 30.60
Lane's Stochastic (%D-Slow) 52.97
Greed/Fear Indicator (GFI) 59.61
Moving Average Converg./Diverg. (MACD) 1.53
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 80.88
Yearly Trendline Resistance 78.37
Upper Bollinger Band 77.32
Weekly Stochastic Crossing 76.10
50 Day Moving Average 75.68
Price 75.67
Daily Stochastic Crossing 75.43
20 Day Moving Average 75.38
Weekly Trendline Resistance 75.20
Parabolic System 74.35
Lower Bollinger Band 73.38
Weekly Trendline Support 72.92
Yearly Trendline Support 67.64
Quarterly Trendline Support 65.63
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.14
Low Date 06/25/2018
High 76.74
High Date 06/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 75.20
Support 72.92
High 79.42
High Date 05/22/2018
Low 73.14
Low Date 06/25/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.45
Low Date 02/09/2018
High 79.42
High Date 05/22/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 80.88
Support 65.63
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 78.37
Support 67.64
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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