The Greedy Trader Weekly Analysis
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Market Vectors Gold Miners
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Summary:
Weekly :Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldBroken trend support line
Daily :Williams' Percentage Range oversoldLane's Stochastic is strongly oversold
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It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -0.84 points, or -3.73%, and closed at 21.65 on Friday, December 08, 2017. It was the worst weekly loss since September 15, 2017. Weekly volume was -35% 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 (24.71) 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 21.40 on December 7, 2017. GDX lost 4.18 points, or 16.34%, in 13 weeks. The price is now at the 5.98% retracement level.

Weekly Technical Indicators: [See GDX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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 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, but getting bigger. It indicates that the current medium-term downtrend 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 November 28, 2017 at 23.17 and reached 21.40 on December 7, 2017. GDX lost 1.77 points, or 7.64%, in 9 days. The price is now at the 14.12% retracement level.

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

The daily MACD line is below its signal line since November 30, 2017. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.27
Williams' Percentage Range (W%R) 88.70
Oversold
Lane's Stochastic (%D-Slow) 9.09
Strong Oversold
Greed/Fear Indicator (GFI) 15.89
Oversold
Moving Average Converg./Diverg. (MACD) -0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.03
Williams' Percentage Range (W%R) 95.20
Strong Oversold
Lane's Stochastic (%D-Slow) 18.52
Oversold
Greed/Fear Indicator (GFI) 20.52
Moving Average Converg./Diverg. (MACD) 0.02
Trading Signals
Description Value Chart
Monthly Trendline Resistance 25.52
Monthly Trendline Support 24.71
Upper Bollinger Band 23.22
50 Day Moving Average 22.85
20 Day Moving Average 22.46
Parabolic System 22.41
Weekly Stochastic Crossing 21.90
Price 21.65
Daily Stochastic Crossing 21.55
Lower Bollinger Band 21.54
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 23.17
High Date 11/28/2017
Low 21.40
Low Date 12/07/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.58
High Date 09/07/2017
Low 21.40
Low Date 12/07/2017
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 25.52
Support 24.71
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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