The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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streetTRACKS Gold Shares
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Summary:
Weekly :Broken trend support lineBroken trend support lineRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold
Daily :The 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 -0.28 points, or -0.25%, and closed at 113.23 on Friday, September 07, 2018. Weekly volume was -30% 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 uptrend support line (118.71) 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 long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on December 15, 2016 at 107.00 and reached 129.51 on January 25, 2018. GLD gained -22.51 points, or -21.04%, in 58 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (125.13) 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 medium-term trend.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 20, 2018. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term downtrend had started on April 11, 2018 at 129.47 and reached 111.06 on August 15, 2018. GLD lost 18.41 points, or 14.22%, in 126 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 110.43 and resistance is at 113.98. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.

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

The daily MACD line is above its signal line since August 21, 2018.

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) 56.69
Williams' Percentage Range (W%R) 47.20
Lane's Stochastic (%D-Slow) 39.20
Greed/Fear Indicator (GFI) 49.55
Moving Average Converg./Diverg. (MACD) -0.70
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 18.56
Oversold
Williams' Percentage Range (W%R) 87.40
Oversold
Lane's Stochastic (%D-Slow) 16.20
Oversold
Greed/Fear Indicator (GFI) 21.35
Moving Average Converg./Diverg. (MACD) -2.08
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 131.44
Yearly Trendline Resistance 128.86
Quarterly Trendline Support 125.13
Yearly Trendline Support 118.71
Upper Bollinger Band 115.58
50 Day Moving Average 115.26
Parabolic System 114.85
Weekly Trendline Resistance 113.98
Daily Stochastic Crossing 113.43
Price 113.23
20 Day Moving Average 113.15
Weekly Stochastic Crossing 112.35
Lower Bollinger Band 111.82
Weekly Trendline Support 110.43
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 111.06
Low Date 08/15/2018
High 114.87
High Date 08/28/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 113.98
Support 110.43
High 129.47
High Date 04/11/2018
Low 111.06
Low Date 08/15/2018
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
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 131.44
Support 125.13
Low 107.00
Low Date 12/15/2016
High 129.51
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 128.86
Support 118.71
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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