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Downtrend Broken Resist.Archive
- 2/6/2026 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis
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| Summary:
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| | It was a sixth positive week after 3 consecutive negative weeks for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO gained 4.80 points, or 4.88%, and closed at 103.07 on Friday, February 6, 2026. It was the best weekly gain since September 26, 2025. Weekly volume was 56% above average.
 Long-term trend: [See IEO long-term trend chart]
A long-term downtrend had started on April 12, 2024 at 112.72 and reached 73.17 on April 9, 2025. IEO lost 39.55 points, or 35.09%, in 51 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (87.11) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. IEO may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.
 Medium-term trend: [See IEO medium-term trend chart]
A medium-term uptrend had started on December 26, 2025 at 87.73 and reached 103.34 on February 6, 2026. IEO gained -15.61 points, or -17.79%, in 6 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (96.41) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 IEO weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 16, 2026. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See IEO short-term trend chart]
A short-term uptrend had started on February 2, 2026 at 94.96 and reached 103.34 on February 6, 2026. IEO gained -8.38 points, or -8.82%, in 4 days. Price is near the trend high.
Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since January 2, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 touches the upper 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.
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