The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/26/2024 -
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Market Vectors Gold Miners (GDX) Technical Analysis

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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX gained 0.51 points, or 1.50%, and closed at 34.58 on Friday, April 26, 2024. Weekly volume was 37% above average.

Long-term trend: [See GDX long-term trend chart]
A long-term downtrend had started on May 4, 2023 at 36.26 and reached 25.62 on October 4, 2023. GDX lost 10.64 points, or 29.34%, in 21 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (25.69) is broken. A broken support is considered to be a long-term bullish 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 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 35.74 on April 12, 2024. GDX gained -10.07 points, or -39.23%, in 6 weeks. The price is now at the 11.52% retracement level.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 12, 2024 at 35.74 and reached 32.20 on April 23, 2024. GDX lost 3.54 points, or 9.90%, in 11 days. The chart has formed a Falling Wedge chart pattern.

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

The daily MACD line is below its signal line since April 15, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 above the upper Bollinger Band. It is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.20
Williams' Percentage Range (W%R) 25.80
Lane's Stochastic (%D-Slow) 46.44
Greed/Fear Indicator (GFI) 58.94
Moving Average Converg./Diverg. (MACD) 0.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.97
Overbought
Williams' Percentage Range (W%R) 10.30
Overbought
Lane's Stochastic (%D-Slow) 86.28
Overbought
Greed/Fear Indicator (GFI) 78.92
Moving Average Converg./Diverg. (MACD) 0.21
Trading Signals
Description Value Chart
Price 34.58
Weekly Stochastic Crossing 34.43
Upper Bollinger Band 34.36
Daily Stochastic Crossing 33.78
20 Day Moving Average 33.47
Parabolic System 32.17
Lower Bollinger Band 31.64
50 Day Moving Average 30.55
Quarterly Trendline Resistance 30.29
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 35.74
High Date 04/12/2024
Low 32.20
Low Date 04/23/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.67
Low Date 02/28/2024
High 35.74
High Date 04/12/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.62
Low Date 10/04/2023
High 35.74
High Date 04/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 30.29
Support 25.69
High 36.26
High Date 05/04/2023
Low 25.62
Low Date 10/04/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.78
High Date 08/05/2020
Low 21.52
Low Date 09/26/2022
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.