The Greedy Trader Weekly Analysis
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Quarterly 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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- 5/17/2024 -
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Market Vectors Gold Miners (GDX) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergenceBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtThe 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 1.62 points, or 4.60%, and closed at 36.87 on Friday, May 17, 2024. GDX was trading at average weekly trading volume.

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 (25.70) 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 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 36.89 on May 17, 2024. GDX gained -11.22 points, or -43.71%, in 11 weeks. Price is near the trend high.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 uptrend had started on April 23, 2024 at 32.20 and reached 36.89 on May 17, 2024. GDX gained -4.69 points, or -14.57%, in 24 days. Price is near the trend high.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since May 9, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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) 64.87
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 85.16
Overbought
Greed/Fear Indicator (GFI) 78.51
Moving Average Converg./Diverg. (MACD) 0.78
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 86.61
Overbought
Williams' Percentage Range (W%R) 6.10
Strong Overbought
Lane's Stochastic (%D-Slow) 82.72
Overbought Bearish
Greed/Fear Indicator (GFI) 81.42
Overbought
Moving Average Converg./Diverg. (MACD) 0.70
Trading Signals
Description Value Chart
Price 36.87
Upper Bollinger Band 36.78
Daily Stochastic Crossing 36.55
Weekly Stochastic Crossing 35.70
20 Day Moving Average 34.39
Parabolic System 34.09
50 Day Moving Average 32.80
Lower Bollinger Band 32.35
Yearly Trendline Resistance 29.92
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 32.93
Low Date 05/02/2024
High 36.89
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.20
Low Date 04/23/2024
High 36.89
High Date 05/17/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.67
Low Date 02/28/2024
High 36.89
High Date 05/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.62
Low Date 10/04/2023
High 36.89
High Date 05/17/2024
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 29.92
Support 25.70
High 36.26
High Date 05/04/2023
Low 25.62
Low Date 10/04/2023
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.