The Greedy Trader Weekly Analysis
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- 11/19/2021 -
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streetTRACKS Gold Shares (GLD)

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Summary:
Weekly :Williams' Percentage Range is strongly overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the price
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It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -1.83 points, or -1.05%, and closed at 172.61 on Friday, November 19, 2021. It was the worst weekly loss since September 17, 2021. Weekly volume was -14% 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 194.45 on August 6, 2020. GLD gained -94.22 points, or -94.00%, in 242 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 140.47 and resistance is at 214.50. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on August 10, 2021 at 160.68 and reached 174.66 on November 12, 2021. GLD gained -13.98 points, or -8.70%, in 13 weeks. The price is now at the 14.66% retracement level.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 above its signal line since October 22, 2021. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term uptrend had started on September 29, 2021 at 160.97 and reached 174.66 on November 12, 2021. GLD gained -13.69 points, or -8.50%, in 44 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See GLD 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. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since November 3, 2021. 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 (172.07) comes close to the price (172.61). 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.45
Williams' Percentage Range (W%R) 9.40
Strong Overbought
Lane's Stochastic (%D-Slow) 81.69
Overbought
Greed/Fear Indicator (GFI) 79.57
Moving Average Converg./Diverg. (MACD) 1.74
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.97
Williams' Percentage Range (W%R) 6.90
Strong Overbought
Lane's Stochastic (%D-Slow) 73.51
Greed/Fear Indicator (GFI) 73.49
Moving Average Converg./Diverg. (MACD) -0.67
Trading Signals
Description Value Chart
Upper Bollinger Band 176.81
Daily Stochastic Crossing 174.11
Price 172.61
Parabolic System 172.07
Weekly Stochastic Crossing 171.81
20 Day Moving Average 170.45
50 Day Moving Average 167.30
Lower Bollinger Band 164.95
Yearly Trendline Support 140.47
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 160.97
Low Date 09/29/2021
High 174.66
High Date 11/12/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 160.68
Low Date 08/10/2021
High 174.66
High Date 11/12/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 178.84
High Date 06/01/2021
Low 160.68
Low Date 08/10/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 194.45
High Date 08/06/2020
Low 157.13
Low Date 03/08/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 214.50
Support 140.47
Low 100.23
Low Date 12/17/2015
High 194.45
High Date 08/06/2020
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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