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Archive
- 12/20/2024 -
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Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -1.92 points, or -5.24%, and closed at 34.73 on Friday, December 20, 2024. GDX was trading at average weekly trading volume.
 Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on September 26, 2022 at 21.52 and reached 44.22 on October 22, 2024. GDX gained -22.70 points, or -105.48%, in 108 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (28.74) 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 GDX medium-term trend chart]
A medium-term uptrend had started on February 28, 2024 at 25.67 and reached 44.22 on October 22, 2024. GDX gained -18.55 points, or -72.26%, in 33 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (45.10) 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. GDX 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 GDX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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.
The weekly MACD line is below its signal line since November 1, 2024. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See GDX short-term trend chart]
A short-term downtrend had started on December 11, 2024 at 39.17 and reached 34.19 on December 19, 2024. GDX lost 4.98 points, or 12.71%, in 8 days. The price is now at the 10.84% retracement level.
 Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish 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 bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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