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Weekly Pattern: | Falling Channel |
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Number of records: 5 |
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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a third positive week after 4 consecutive negative weeks for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.25 points, or 0.84%, and closed at 29.89 on Friday, March 15, 2024. Weekly volume was 11% above average. Long-term trend: [See GDX long-term trend chart] A long-term uptrend had started on September 26, 2022 at 21.52 and reached 36.26 on May 4, 2023. GDX gained -14.74 points, or -68.49%, in 31 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 27.41 and resistance is at 30.99. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend. Medium-term trend: [See GDX medium-term trend chart] A medium-term downtrend had started on December 22, 2023 at 32.35 and reached 25.67 on February 28, 2024. GDX lost 6.68 points, or 20.65%, in 9 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level. Weekly Technical Indicators: [See GDX weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 February 28, 2024 at 25.67 and reached 30.49 on March 13, 2024. GDX gained -4.82 points, or -18.78%, in 14 days. The chart has formed a Rising Wedge chart pattern. Daily Technical Indicators: [See GDX daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since February 28, 2024. This is an indication that the short-term trend is up.
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Daily Oscillators |
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Weekly Oscillators |
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Trading
Signals |
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Sector and
Industry |
Description |
Name |
Rank |
Sector |
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Industry |
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Daily Trend |
Description |
Value |
Direction |
Up |
Chart Pattern |
Rising Wedge |
Low |
25.67 |
Low Date |
02/28/2024 |
High |
30.49 |
High Date |
03/13/2024 |
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Weekly Trend |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
32.35 |
High Date |
12/22/2023 |
Low |
25.67 |
Low Date |
02/28/2024 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
36.26 |
High Date |
05/04/2023 |
Low |
25.62 |
Low Date |
10/04/2023 |
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Quarterly Trend |
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Description |
Value |
Direction |
Up |
Chart Pattern |
Symmetric Triangle |
Status |
Valid |
Resistance |
30.99 |
Support |
27.41 |
Low |
21.52 |
Low Date |
09/26/2022 |
High |
36.26 |
High Date |
05/04/2023 |
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Description |
Value |
Direction |
Down |
Chart Pattern |
DownTrend |
Status |
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Resistance |
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Support |
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High |
45.78 |
High Date |
08/05/2020 |
Low |
21.52 |
Low Date |
09/26/2022 |
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