The Greedy Trader Weekly Analysis
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Archive
- 2/8/2019
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streetTRACKS Gold Shares
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :Broken trend support lineStochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD gave back -0.29 points, or -0.23%, and closed at 124.21 on Friday, February 8, 2019. Weekly volume was -21% below average.

Long-term trend: [See GLD long-term trend chart]
A long-term uptrend had started on December 17, 2015 at 100.23 and reached 131.15 on July 6, 2016. GLD gained -30.92 points, or -30.85%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 121.54 and resistance is at 128.42. 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 GLD medium-term trend chart]
A medium-term uptrend had started on August 15, 2018 at 111.06 and reached 125.23 on January 31, 2019. GLD gained -14.17 points, or -12.76%, in 24 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (115.50) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 GLD weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 above its signal line since October 12, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term uptrend had started on November 13, 2018 at 113.42 and reached 125.23 on January 31, 2019. GLD gained -11.81 points, or -10.41%, in 79 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (125.07) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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) 72.25
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 55.61
Greed/Fear Indicator (GFI) 66.95
Moving Average Converg./Diverg. (MACD) 1.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.88
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 91.78
Strong Overbought
Greed/Fear Indicator (GFI) 83.03
Overbought
Moving Average Converg./Diverg. (MACD) 0.25
Trading Signals
Description Value Chart
Yearly Trendline Resistance 128.42
Weekly Trendline Resistance 127.50
Upper Bollinger Band 125.45
Parabolic System 125.32
Weekly Trendline Support 125.07
Weekly Stochastic Crossing 124.51
Daily Stochastic Crossing 124.35
Price 124.21
20 Day Moving Average 122.93
Monthly Trendline Resistance 122.28
Yearly Trendline Support 121.54
50 Day Moving Average 120.46
Lower Bollinger Band 120.42
Monthly Trendline Support 115.50
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 125.23
High Date 01/31/2019
Low 123.40
Low Date 02/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 127.50
Support 125.07
Low 113.42
Low Date 11/13/2018
High 125.23
High Date 01/31/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 122.28
Support 115.50
Low 111.06
Low Date 08/15/2018
High 125.23
High Date 01/31/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 111.06
Low Date 08/15/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 128.42
Support 121.54
Low 100.23
Low Date 12/17/2015
High 131.15
High Date 07/06/2016
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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