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Downtrend Broken Resist.Archive
- 2/14/2025 -
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Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
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| | It was a seventh positive week after 5 consecutive negative weeks for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.22 points, or 0.54%, and closed at 41.08 on Friday, February 14, 2025. GDX was trading at average weekly trading volume.
 Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on October 4, 2023 at 25.62 and reached 44.22 on October 22, 2024. GDX gained -18.60 points, or -72.60%, in 54 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 25.79 and resistance is at 48.67. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on October 22, 2024 at 44.22 and reached 33.42 on December 30, 2024. GDX lost 10.80 points, or 24.42%, in 9 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (31.59) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GDX may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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, 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 December 30, 2024 at 33.42 and reached 42.66 on February 14, 2025. GDX gained -9.24 points, or -27.65%, in 46 days. The price is now at the 17.10% retracement level.
 Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish 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.
The daily MACD line is above its signal line since January 2, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (40.96) comes close to the price (41.08). It indicates that the trend is getting weaker. 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.
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