The Greedy Trader Weekly Analysis
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Yearly Pattern:Rising Pennant
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

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- 11/8/2019 -
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streetTRACKS Gold Shares (GLD)

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Summary:
Weekly :Broken trend resistance lineBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandWilliams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -5.17 points, or -3.63%, and closed at 137.39 on Friday, November 8, 2019. Weekly volume was -18% 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 146.82 on September 4, 2019. GLD gained -46.59 points, or -46.48%, in 193 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (116.55) 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 long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on May 2, 2019 at 119.54 and reached 146.82 on September 4, 2019. GLD gained -27.28 points, or -22.82%, in 17 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (142.67) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. GLD may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

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

The weekly MACD line is below its signal line since October 4, 2019. 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 September 4, 2019 at 146.82 and reached 137.39 on November 8, 2019. GLD lost 9.43 points, or 6.42%, in 65 days. Price is near the trend low.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. 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.

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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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 price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 40.29
Williams' Percentage Range (W%R) 93.80
Strong Oversold
Lane's Stochastic (%D-Slow) 26.80
Greed/Fear Indicator (GFI) 24.42
Moving Average Converg./Diverg. (MACD) -0.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.74
Williams' Percentage Range (W%R) 54.70
Lane's Stochastic (%D-Slow) 32.38
Greed/Fear Indicator (GFI) 40.74
Moving Average Converg./Diverg. (MACD) 4.53
Trading Signals
Description Value Chart
Upper Bollinger Band 142.96
Weekly Trendline Support 142.67
Parabolic System 142.43
50 Day Moving Average 141.32
20 Day Moving Average 140.53
Weekly Stochastic Crossing 139.68
Weekly Trendline Resistance 138.83
Daily Stochastic Crossing 138.17
Lower Bollinger Band 138.03
Price 137.39
Yearly Trendline Resistance 127.62
Yearly Trendline Support 116.55
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 146.82
High Date 09/04/2019
Low 137.39
Low Date 11/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 138.83
Support 142.67
Low 119.54
Low Date 05/02/2019
High 146.82
High Date 09/04/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 111.06
Low Date 08/15/2018
High 146.82
High Date 09/04/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 107.00
Low Date 12/15/2016
High 146.82
High Date 09/04/2019
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 127.62
Support 116.55
Low 100.23
Low Date 12/17/2015
High 146.82
High Date 09/04/2019
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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