The Greedy Trader Weekly Analysis
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Archive
- 6/8/2018
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Market Vectors Gold Miners
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Summary:
Weekly :
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageThe price has risen above the Parabolic SARThe period of low volatility of the stock price
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It was a third consecutive positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.02 points, or 0.09%, and closed at 22.33 on Friday, June 08, 2018. Weekly volume was -46% 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 price is now at the 47.41% retracement level.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term uptrend had started on March 1, 2018 at 20.94 and reached 23.31 on April 18, 2018. GDX gained -2.37 points, or -11.32%, in 6 weeks. The price is now at the 41.35% retracement level.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since April 13, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 18, 2018 at 23.31 and reached 22.01 on May 23, 2018. GDX lost 1.30 points, or 5.58%, in 35 days. The chart has formed a Ascending Triangle chart pattern.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since June 7, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

The distance between the Bollinger Bands is falling, and it was 3.58% on Friday. It is 54.86% 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.97
Williams' Percentage Range (W%R) 63.80
Lane's Stochastic (%D-Slow) 63.27
Greed/Fear Indicator (GFI) 50.81
Moving Average Converg./Diverg. (MACD) -0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.65
Williams' Percentage Range (W%R) 61.30
Lane's Stochastic (%D-Slow) 54.40
Greed/Fear Indicator (GFI) 48.53
Moving Average Converg./Diverg. (MACD) -0.14
Trading Signals
Description Value Chart
Upper Bollinger Band 22.80
Weekly Stochastic Crossing 22.66
Daily Stochastic Crossing 22.46
50 Day Moving Average 22.45
20 Day Moving Average 22.38
Price 22.33
Parabolic System 22.06
Lower Bollinger Band 22.01
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
High 23.31
High Date 04/18/2018
Low 22.01
Low Date 05/23/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.94
Low Date 03/01/2018
High 23.31
High Date 04/18/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.71
High Date 02/08/2017
Low 20.83
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18.58
Low Date 12/20/2016
High 25.71
High Date 02/08/2017
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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