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Downtrend Broken Resist.Archive
- 5/2/2025 -
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iShares Dow Jones US Oil & Gas Ex Index (IEO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth consecutive positive week for the iShares Dow Jones US Oil & Gas Ex Index (IEO). During the week, the IEO climbed 0.76 points, or 0.92%, and closed at 83.78 on Friday, May 2, 2025. Weekly volume was -8% below average.
 Long-term trend: [See IEO long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 17.63 and reached 112.72 on April 12, 2024. IEO gained -95.09 points, or -539.36%, in 212 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (119.47) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See IEO medium-term trend chart]
A medium-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 Falling Wedge chart pattern. The trend support level is at 81.90 and resistance is at 94.75. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See IEO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2025. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 April 9, 2025 at 73.17 and reached 84.24 on April 28, 2025. IEO gained -11.07 points, or -15.13%, in 19 days. Price is near the trend high.
 Daily Technical Indicators: [See IEO daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 22, 2025. This is an indication that the short-term trend is up.
During the last week, the price has moved above 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.
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