The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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Market Vectors Gold Miners (GDX) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX gained 2.22 points, or 7.02%, and closed at 33.84 on Friday, April 5, 2024. Weekly volume was 44% above average.

Long-term trend: [See GDX long-term trend chart]
A long-term downtrend had started on May 4, 2023 at 36.26 and reached 25.62 on October 4, 2023. GDX lost 10.64 points, or 29.34%, in 21 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (25.68) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GDX may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term uptrend had started on February 28, 2024 at 25.67 and reached 33.99 on April 5, 2024. GDX gained -8.32 points, or -32.41%, in 5 weeks. Price is near the trend high.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively 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 GDX short-term trend chart]
A short-term uptrend had started on March 22, 2024 at 29.59 and reached 33.99 on April 5, 2024. GDX gained -4.40 points, or -14.87%, in 14 days. Price is near the trend high.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since February 28, 2024. This is an indication that the short-term trend is up.

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) 75.82
Williams' Percentage Range (W%R) 19.50
Overbought
Lane's Stochastic (%D-Slow) 93.33
Strong Overbought
Greed/Fear Indicator (GFI) 83.22
Overbought
Moving Average Converg./Diverg. (MACD) 0.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.99
Williams' Percentage Range (W%R) 11.90
Overbought
Lane's Stochastic (%D-Slow) 82.21
Overbought
Greed/Fear Indicator (GFI) 76.15
Moving Average Converg./Diverg. (MACD) -0.27
Trading Signals
Description Value Chart
Price 33.84
Daily Stochastic Crossing 33.76
Upper Bollinger Band 33.55
Weekly Stochastic Crossing 33.09
Parabolic System 31.48
20 Day Moving Average 30.73
Quarterly Trendline Resistance 30.65
50 Day Moving Average 28.73
Lower Bollinger Band 28.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29.59
Low Date 03/22/2024
High 33.99
High Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.67
Low Date 02/28/2024
High 33.99
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.62
Low Date 10/04/2023
High 33.99
High Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 30.65
Support 25.68
High 36.26
High Date 05/04/2023
Low 25.62
Low Date 10/04/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.78
High Date 08/05/2020
Low 21.52
Low Date 09/26/2022
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.