The Greedy Trader Weekly Analysis
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Market Vectors Gold Miners
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Summary:
Weekly :Stochastic signal line moved above oversold areaPrice is near the Fibonacci 23.6% retracement level
Daily :The price has fallen below the Parabolic SARThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.13 points, or 0.70%, and closed at 18.65 on Friday, October 05, 2018. Weekly volume was 20% 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 17.28 on September 11, 2018. GDX lost 8.43 points, or 32.79%, in 82 weeks. The price is now at the 16.25% retracement level.

Medium-term trend: [See GDX medium-term trend chart]
A medium-term downtrend had started on April 18, 2018 at 23.31 and reached 17.28 on September 11, 2018. GDX lost 6.03 points, or 25.87%, in 20 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 July 13, 2018. This is an indication that the medium-term trend is down. 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 September 11, 2018 at 17.28 and reached 19.23 on October 3, 2018. GDX gained -1.95 points, or -11.28%, in 22 days. The chart has formed a Rising Wedge chart pattern.

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

The daily MACD line is above its signal line since September 11, 2018. This is an indication that the short-term trend is up.

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.

The price is close to the moving average in the center of the Bollinger Bands. 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) 56.68
Williams' Percentage Range (W%R) 21.00
Lane's Stochastic (%D-Slow) 59.69
Greed/Fear Indicator (GFI) 65.12
Moving Average Converg./Diverg. (MACD) -0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.09
Williams' Percentage Range (W%R) 72.70
Lane's Stochastic (%D-Slow) 21.79
Greed/Fear Indicator (GFI) 28.77
Moving Average Converg./Diverg. (MACD) -0.83
Trading Signals
Description Value Chart
Upper Bollinger Band 19.46
Parabolic System 19.25
50 Day Moving Average 19.11
Daily Stochastic Crossing 18.84
Price 18.65
20 Day Moving Average 18.46
Weekly Stochastic Crossing 18.20
Lower Bollinger Band 17.84
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 17.28
Low Date 09/11/2018
High 19.23
High Date 10/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 23.31
High Date 04/18/2018
Low 17.28
Low Date 09/11/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.71
High Date 02/08/2017
Low 17.28
Low Date 09/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.79
High Date 08/11/2016
Low 17.28
Low Date 09/11/2018
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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