The Greedy Trader Weekly Analysis
Sign In Apr 5, 2024
Skip Navigation Links
Share
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 3/28/2024 -
Sign In to see current Signals.

streetTRACKS Gold Shares (GLD) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtMACD bearish divergenceDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
Move cursor over the icon to see details.

It was a second consecutive positive week for the streetTRACKS Gold Shares (GLD). During the week, the GLD gained 5.37 points, or 2.68%, and closed at 205.72 on Thursday, March 28, 2024. Weekly volume was -12% 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 206.05 on March 28, 2024. GLD gained -105.82 points, or -105.58%, in 432 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 160.74 and resistance is at 250.80. 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 206.05 on March 28, 2024. GLD gained -37.75 points, or -22.43%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (187.58) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range 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 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 GLD short-term trend chart]
A short-term uptrend had started on February 14, 2024 at 183.78 and reached 206.05 on March 28, 2024. GLD gained -22.27 points, or -12.12%, in 43 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (199.81) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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) 63.17
Williams' Percentage Range (W%R) 9.10
Strong Overbought
Lane's Stochastic (%D-Slow) 60.52
Greed/Fear Indicator (GFI) 71.53
Moving Average Converg./Diverg. (MACD) 3.07 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.54
Williams' Percentage Range (W%R) 5.60
Strong Overbought
Lane's Stochastic (%D-Slow) 82.22
Overbought
Greed/Fear Indicator (GFI) 79.60
Moving Average Converg./Diverg. (MACD) 3.17
Trading Signals
Description Value Chart
Price 205.72
Upper Bollinger Band 204.51
Weekly Stochastic Crossing 203.88
Daily Stochastic Crossing 203.82
Weekly Trendline Resistance 203.73
20 Day Moving Average 200.27
Parabolic System 199.83
Weekly Trendline Support 199.81
Lower Bollinger Band 194.02
50 Day Moving Average 192.69
Monthly Trendline Resistance 190.57
Monthly Trendline Support 187.58
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 198.94
Low Date 03/19/2024
High 206.05
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 203.73
Support 199.81
Low 183.78
Low Date 02/14/2024
High 206.05
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 190.57
Support 187.58
Low 168.30
Low Date 10/05/2023
High 206.05
High Date 03/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 150.57
Low Date 11/03/2022
High 206.05
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 250.80
Support 160.74
Low 100.23
Low Date 12/17/2015
High 206.05
High Date 03/28/2024
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.