The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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Market Vectors Gold Miners
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Summary:
Weekly :Broken trend support line - Downtrend exhaustionRelative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range and Lane's Stochastic are oversoldRelative Strength Index, Lane's Stochastic and MACD bullish divergence
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It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -0.67 points, or -3.61%, and closed at 17.88 on Friday, September 07, 2018. Weekly volume was 29% above average.

Long-term trend: [See GDX long-term trend chart]
A long-term downtrend had started on February 8, 2017 at 25.71 and reached 17.58 on September 7, 2018. GDX lost 8.13 points, or 31.62%, in 82 weeks. Price is near the trend low.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on April 18, 2018 at 23.31 and reached 17.58 on September 7, 2018. GDX lost 5.73 points, or 24.58%, in 20 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (21.35) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since July 13, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See GDX short-term trend chart]
A short-term downtrend had started on July 9, 2018 at 22.93 and reached 17.58 on September 7, 2018. GDX lost 5.35 points, or 23.33%, in 60 days. The price is now at the 5.61% retracement level.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish 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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.76
Bullish
Williams' Percentage Range (W%R) 94.70
Strong Oversold
Lane's Stochastic (%D-Slow) 9.06
Strong Oversold Bullish
Greed/Fear Indicator (GFI) 17.38
Oversold
Moving Average Converg./Diverg. (MACD) -0.70 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 11.48
Oversold
Williams' Percentage Range (W%R) 97.00
Strong Oversold
Lane's Stochastic (%D-Slow) 8.25
Strong Oversold
Greed/Fear Indicator (GFI) 14.88
Oversold
Moving Average Converg./Diverg. (MACD) -0.48
Trading Signals
Description Value Chart
Weekly Trendline Support 21.35
50 Day Moving Average 20.53
Upper Bollinger Band 20.34
Parabolic System 19.20
20 Day Moving Average 18.80
Weekly Stochastic Crossing 17.99
Price 17.88
Daily Stochastic Crossing 17.71
Lower Bollinger Band 17.56
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 22.93
High Date 07/09/2018
Low 17.58
Low Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Support
Resistance 22.35
Support 21.35
High 23.31
High Date 04/18/2018
Low 17.58
Low Date 09/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.71
High Date 02/08/2017
Low 17.58
Low Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.79
High Date 08/11/2016
Low 17.58
Low Date 09/07/2018
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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