The Greedy Trader Weekly Analysis
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Archive
- 4/13/2018
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Market Vectors Gold Miners
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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtMACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving AverageThe price touches the upper Bollinger Band
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It was a second consecutive positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX gained 0.83 points, or 3.76%, and closed at 22.90 on Friday, April 13, 2018. It was the best weekly gain since February 16, 2018. GDX was trading at average weekly trading volume.

Long-term trend: [See GDX long-term trend chart]
A long-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 price is now at the 32.70% retracement level.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on February 14, 2018 at 23.15 and reached 20.94 on March 1, 2018. GDX lost 2.21 points, or 9.55%, in 2 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (21.45) 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. GDX 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 GDX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See GDX short-term trend chart]
A short-term uptrend had started on March 20, 2018 at 21.16 and reached 23.05 on April 11, 2018. GDX gained -1.89 points, or -8.93%, in 22 days. The price is now at the 7.94% retracement level.

Daily Technical Indicators: [See GDX 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. Daily 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 daily 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 daily MACD line is above its signal line since March 5, 2018. This is an indication that the short-term trend is up.

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 20 Day Moving Average 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.26
Williams' Percentage Range (W%R) 19.60
Overbought
Lane's Stochastic (%D-Slow) 70.57
Greed/Fear Indicator (GFI) 70.42
Moving Average Converg./Diverg. (MACD) 0.05 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.49
Williams' Percentage Range (W%R) 54.10
Lane's Stochastic (%D-Slow) 34.77
Greed/Fear Indicator (GFI) 42.57
Moving Average Converg./Diverg. (MACD) -0.23
Trading Signals
Description Value Chart
Upper Bollinger Band 22.96
Price 22.90
Daily Stochastic Crossing 22.73
Parabolic System 22.22
20 Day Moving Average 22.01
50 Day Moving Average 21.99
Weekly Stochastic Crossing 21.77
Weekly Trendline Support 21.45
Lower Bollinger Band 21.31
Weekly Trendline Resistance 20.38
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 21.16
Low Date 03/20/2018
High 23.05
High Date 04/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 20.38
Support 21.45
High 23.15
High Date 02/14/2018
Low 20.94
Low Date 03/01/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.71
High Date 02/08/2017
Low 20.83
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.79
High Date 08/11/2016
Low 18.58
Low Date 12/20/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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