SPDR S&P OIL & GAS EXP & PR (XOP) Stock Technical Analysis
NYSEARCA:XOP - NYSE Arca - US78468R5569 - ETF - Currency: USD
We assign a technical rating of 5 out of 10 to XOP. XOP has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
Although the technical rating is only medium, XOP does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 132.24. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 128.01, a Stop Loss order could be placed below this zone.
More info and screens
124.54
When analyzing the support we notice one important area.
- A support zone ranging from 125.80 to 128.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 132.24 to 136.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @146.48 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for XOP is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for XOP is neutral. |
| ChartMill Relative Strength | 35.69 | NEUTRAL | XOP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of XOP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of XOP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of XOP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.35 | NEUTRAL | The RSI value for XOP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.42 | NEGATIVE | The MACD value suggests XOP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 32.7 | NEUTRAL | The Stochastics value for XOP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.16 | MEDIUM VOLATILITY | The ATR as a percentage value for XOP suggests some volalility. |
| Average Directional Index/ADX (14) | 14.99 | NEGATIVE | The low ADX value for XOP suggests a weak or negative trend. |
128.02
-0.77 (-0.6%)