The Greedy Trader Weekly Analysis
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Archive
- 11/10/2017
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Market Vectors Gold Miners
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Summary:
Weekly :
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe period of low volatility of the stock price
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It was a second consecutive positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.09 points, or 0.40%, and closed at 22.52 on Friday, November 10, 2017. Weekly volume was -39% below average.

Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on January 19, 2016 at 12.40 and reached 31.79 on August 11, 2016. GDX gained -19.39 points, or -156.37%, in 29 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 24.40 and resistance is at 16.30. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a long-term trend.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on August 11, 2016 at 31.79 and reached 18.58 on December 20, 2016. GDX lost 13.21 points, or 41.55%, in 18 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 24.23 and resistance is at 16.30. Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a medium-term trend.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 27, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 September 7, 2017 at 25.58 and reached 22.22 on November 3, 2017. GDX lost 3.36 points, or 13.14%, in 57 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 22.10 and resistance is at 22.77. 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 short-term trend.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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 distance between the Bollinger Bands is falling, and it was 6.22% on Friday. It is 53.35% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.77
Williams' Percentage Range (W%R) 64.50
Lane's Stochastic (%D-Slow) 69.29
Greed/Fear Indicator (GFI) 47.87
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.26
Williams' Percentage Range (W%R) 60.30
Lane's Stochastic (%D-Slow) 20.39
Greed/Fear Indicator (GFI) 36.10
Moving Average Converg./Diverg. (MACD) 0.12
Trading Signals
Description Value Chart
Yearly Trendline Support 24.40
Quarterly Trendline Support 24.23
Upper Bollinger Band 23.58
50 Day Moving Average 23.49
20 Day Moving Average 22.87
Weekly Trendline Resistance 22.77
Daily Stochastic Crossing 22.74
Price 22.52
Weekly Stochastic Crossing 22.51
Parabolic System 22.31
Lower Bollinger Band 22.19
Weekly Trendline Support 22.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 23.99
High Date 10/13/2017
Low 22.22
Low Date 11/03/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 22.77
Support 22.10
High 25.58
High Date 09/07/2017
Low 22.22
Low Date 11/03/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.89
Low Date 05/04/2017
High 25.58
High Date 09/07/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 16.30
Support 24.23
High 31.79
High Date 08/11/2016
Low 18.58
Low Date 12/20/2016
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Valid
Resistance 16.30
Support 24.40
Low 12.40
Low Date 01/19/2016
High 31.79
High Date 08/11/2016
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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