The Greedy Trader Weekly Analysis
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Archive
- 12/1/2017
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Market Vectors Gold Miners
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Summary:
Weekly :Broken trend resistance lineLane's Stochastic is oversoldBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -0.34 points, or -1.49%, and closed at 22.49 on Friday, December 01, 2017. It was the worst weekly loss since October 27, 2017. Weekly volume was -27% below average.

Long-term trend: [See GDX long-term trend chart]
A long-term uptrend had started on December 20, 2016 at 18.58 and reached 25.71 on February 8, 2017. GDX gained -7.13 points, or -38.37%, in 7 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (24.58) 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. GDX 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 long-term trend.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on September 7, 2017 at 25.58 and reached 22.22 on November 3, 2017. GDX lost 3.36 points, or 13.14%, in 8 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (21.75) is broken. A broken support is considered to be a long-term bullish signal. 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 GDX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since October 27, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 November 3, 2017 at 22.22 and reached 23.17 on November 28, 2017. GDX gained -0.95 points, or -4.28%, in 25 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See GDX 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. Use the following link to access Williams' Percentage Range help.

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

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 price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.2% on Friday. It is 73.42% lower than one year average. It indicates the period of low volatility of the stock price. 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) 49.22
Williams' Percentage Range (W%R) 85.30
Oversold
Lane's Stochastic (%D-Slow) 41.42
Greed/Fear Indicator (GFI) 35.13
Moving Average Converg./Diverg. (MACD) -0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.46
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 19.00
Oversold
Greed/Fear Indicator (GFI) 26.07
Moving Average Converg./Diverg. (MACD) 0.05
Trading Signals
Description Value Chart
Monthly Trendline Resistance 25.53
Monthly Trendline Support 24.58
Parabolic System 23.12
Upper Bollinger Band 23.10
50 Day Moving Average 23.00
20 Day Moving Average 22.70
Weekly Stochastic Crossing 22.60
Daily Stochastic Crossing 22.54
Price 22.49
Lower Bollinger Band 22.38
Weekly Trendline Resistance 21.91
Weekly Trendline Support 21.75
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 22.22
Low Date 11/03/2017
High 23.17
High Date 11/28/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 21.91
Support 21.75
High 25.58
High Date 09/07/2017
Low 22.22
Low Date 11/03/2017
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 25.53
Support 24.58
Low 18.58
Low Date 12/20/2016
High 25.71
High Date 02/08/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.79
High Date 08/11/2016
Low 18.58
Low Date 12/20/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.40
Low Date 01/19/2016
High 31.79
High Date 08/11/2016
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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