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Downtrend Broken Resist.Archive
- 7/19/2024 -
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streetTRACKS Gold Shares (GLD) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD gave back -1.38 points, or -0.62%, and closed at 221.73 on Friday, July 19, 2024. Weekly volume was 11% 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 229.65 on July 17, 2024. GLD gained -129.42 points, or -129.12%, in 447 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 162.99 and resistance is at 255.54. 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 June 7, 2024 at 211.57 and reached 229.65 on July 17, 2024. GLD gained -18.08 points, or -8.55%, in 5 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 212.82 and resistance is at 230.72. 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 medium-term trend.
 Weekly Technical Indicators: [See GLD 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.
The weekly MACD line is below its signal line since June 14, 2024. The distance between MACD and the signal line is low and getting smaller. 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 June 26, 2024 at 212.12 and reached 229.65 on July 17, 2024. GLD gained -17.53 points, or -8.26%, in 21 days. The price is now at the 45.18% retracement level.
 Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since June 28, 2024. This is an indication that the short-term trend is up.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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