The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Market Vectors Gold Miners
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are oversoldBroken trend support line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaThe price has risen above the Parabolic SAR
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It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX gave back -0.01 points, or -0.05%, and closed at 20.28 on Friday, May 10, 2019. Weekly volume was -27% below average.

Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on September 11, 2018 at 17.28 and reached 23.70 on February 20, 2019. GDX gained -6.42 points, or -37.15%, in 23 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (23.48) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. GDX may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on February 20, 2019 at 23.70 and reached 20.14 on May 2, 2019. GDX lost 3.56 points, or 15.02%, in 10 weeks. Price is near the trend low.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 April 18, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See GDX short-term trend chart]
A short-term downtrend had started on April 10, 2019 at 22.93 and reached 20.14 on May 2, 2019. GDX lost 2.79 points, or 12.17%, in 22 days. The price is now at the 5.02% retracement level.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since April 10, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.85
Williams' Percentage Range (W%R) 81.50
Oversold
Lane's Stochastic (%D-Slow) 24.83
Greed/Fear Indicator (GFI) 27.38
Moving Average Converg./Diverg. (MACD) -0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.20
Williams' Percentage Range (W%R) 82.90
Oversold
Lane's Stochastic (%D-Slow) 19.12
Oversold
Greed/Fear Indicator (GFI) 26.94
Moving Average Converg./Diverg. (MACD) 0.41
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 24.18
Quarterly Trendline Support 23.48
Upper Bollinger Band 22.18
50 Day Moving Average 21.82
20 Day Moving Average 20.96
Weekly Stochastic Crossing 20.51
Daily Stochastic Crossing 20.41
Price 20.28
Parabolic System 20.22
Lower Bollinger Band 19.75
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 22.93
High Date 04/10/2019
Low 20.14
Low Date 05/02/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 23.38
High Date 03/26/2019
Low 20.14
Low Date 05/02/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 23.70
High Date 02/20/2019
Low 20.14
Low Date 05/02/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 24.18
Support 23.48
Low 17.28
Low Date 09/11/2018
High 23.70
High Date 02/20/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.79
High Date 08/11/2016
Low 17.28
Low Date 09/11/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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