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Advanced TA SearchArchive - 5/3/2024 - Sign In to see current Signals. |
streetTRACKS Gold Shares (GLD) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -3.63 points, or -1.68%, and closed at 212.99 on Friday, May 3, 2024. Weekly volume was 18% above 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 225.09 on April 12, 2024. GLD gained -124.86 points, or -124.57%, in 434 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 161.47 and resistance is at 252.34. 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 October 5, 2023 at 168.30 and reached 225.09 on April 12, 2024. GLD gained -56.79 points, or -33.74%, in 27 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (189.44) 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 medium-term trend. Weekly Technical Indicators: [See GLD weekly technical indicators chart] Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help. The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 February 14, 2024 at 183.78 and reached 225.09 on April 12, 2024. GLD gained -41.31 points, or -22.48%, in 58 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (220.03) 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. GLD 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 short-term trend. Daily Technical Indicators: [See GLD daily technical indicators chart] Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help. The daily MACD line is below its signal line since April 19, 2024. The distance between MACD and the signal line is relatively high and getting bigger. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
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