The Greedy Trader Weekly Analysis
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Market Vectors Gold Miners
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Summary:
Weekly :Price is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Market Vectors Gold Miners (GDX). During the week, the GDX dropped -0.65 points, or -2.87%, and closed at 21.96 on Friday, July 13, 2018. It was the worst weekly loss since May 18, 2018. Weekly volume was -12% below 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 20.83 on February 9, 2018. GDX lost 4.88 points, or 18.98%, in 52 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 56.96% 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 June 29, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 21.77 on June 28, 2018. GDX lost 1.54 points, or 6.61%, in 71 days. The chart has formed a Falling Wedge chart pattern.

Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.

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.

During the last week, the price has declined below 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 45.42
Williams' Percentage Range (W%R) 80.20
Oversold
Lane's Stochastic (%D-Slow) 36.33
Greed/Fear Indicator (GFI) 33.86
Moving Average Converg./Diverg. (MACD) -0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.35
Williams' Percentage Range (W%R) 55.30
Lane's Stochastic (%D-Slow) 30.49
Greed/Fear Indicator (GFI) 40.09
Moving Average Converg./Diverg. (MACD) -0.12
Trading Signals
Description Value Chart
Parabolic System 22.91
Upper Bollinger Band 22.79
50 Day Moving Average 22.36
Daily Stochastic Crossing 22.22
20 Day Moving Average 22.18
Weekly Stochastic Crossing 22.09
Price 21.96
Lower Bollinger Band 21.73
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 23.31
High Date 04/18/2018
Low 21.77
Low Date 06/28/2018
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 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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