Select Sector SPDR ETFs Technical AnalysisArchive
- 1/7/2022 -
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Energy Select Sector SPDR (XLE)
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|It was a third consecutive positive week for the Energy Select Sector SPDR (XLE). During the week, the XLE gained 5.84 points, or 10.52%, and closed at 61.34 on Friday, January 7, 2022. Weekly volume was 22% above average. |
Long-term trend: [See XLE long-term trend chart]
A long-term downtrend had started on June 23, 2014 at 101.52 and reached 22.88 on March 18, 2020. XLE lost 78.64 points, or 77.46%, in 299 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (13.02) 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. XLE 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 XLE medium-term trend chart]
A medium-term uptrend had started on August 19, 2021 at 45.14 and reached 61.50 on January 7, 2022. XLE gained -16.36 points, or -36.24%, in 20 weeks. Price is near the trend high.
Weekly Technical Indicators: [See XLE 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 Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 10, 2021. The distance between MACD and the signal line is low and getting smaller. 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 December 20, 2021 at 51.66 and reached 61.50 on January 7, 2022. XLE gained -9.84 points, or -19.05%, in 18 days. Price is near the trend high.
Daily Technical Indicators: [See XLE daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since December 23, 2021. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.