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Downtrend Broken Resist.Archive
- 9/5/2025 -
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SPDR Oil & Gas Equipment & Services (XES) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the SPDR Oil & Gas Equipment & Services (XES). During the week, the XES dropped -0.83 points, or -1.17%, and closed at 69.82 on Friday, September 5, 2025. Weekly volume was 23% above average.
 Long-term trend: [See XES long-term trend chart]
A long-term downtrend had started on September 12, 2023 at 100.81 and reached 51.19 on April 9, 2025. XES lost 49.62 points, or 49.22%, in 82 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 42.95 and resistance is at 97.23. A Broadening Descending 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, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See XES medium-term trend chart]
A medium-term downtrend had started on July 31, 2024 at 99.21 and reached 51.19 on April 9, 2025. XES lost 48.02 points, or 48.40%, in 36 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (40.05) 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. XES 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 medium-term trend.
 Weekly Technical Indicators: [See XES weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since June 6, 2025. Use the following link to access a MACD help.
 Short-term trend: [See XES short-term trend chart]
A short-term uptrend had started on August 1, 2025 at 63.21 and reached 71.04 on August 29, 2025. XES gained -7.83 points, or -12.39%, in 28 days. The chart has formed a Rising Channel chart pattern.
 Daily Technical Indicators: [See XES 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. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since August 21, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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