The Greedy Trader Weekly Analysis
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streetTRACKS Gold Shares
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Summary:
Weekly :Broken trend support line
Daily :The price is below the lower Bollinger BandWilliams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageThe period of low volatility of the stock price
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It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -2.18 points, or -1.87%, and closed at 114.47 on Friday, November 09, 2018. It was the worst weekly loss since August 17, 2018. Weekly volume was 22% above average.

Long-term trend: [See GLD long-term trend chart]
A long-term uptrend had started on December 17, 2015 at 100.23 and reached 131.15 on July 6, 2016. GLD gained -30.92 points, or -30.85%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (119.92) 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. GLD 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 GLD medium-term trend chart]
A medium-term uptrend had started on August 15, 2018 at 111.06 and reached 117.65 on October 26, 2018. GLD gained -6.59 points, or -5.93%, in 10 weeks. The price is now at the 48.25% retracement level.

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

The weekly MACD line is above its signal line since October 12, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term downtrend had started on October 26, 2018 at 117.65 and reached 114.14 on November 9, 2018. GLD lost 3.51 points, or 2.98%, in 14 days. The price is now at the 9.40% retracement level.

Daily Technical Indicators: [See GLD 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.

The daily MACD line is below its signal line since October 30, 2018. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is falling, and it was 1.85% on Friday. It is 50.98% 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 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) 40.96
Williams' Percentage Range (W%R) 86.90
Oversold
Lane's Stochastic (%D-Slow) 41.38
Greed/Fear Indicator (GFI) 31.82
Moving Average Converg./Diverg. (MACD) 0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.32
Williams' Percentage Range (W%R) 62.10
Lane's Stochastic (%D-Slow) 74.31
Greed/Fear Indicator (GFI) 55.82
Moving Average Converg./Diverg. (MACD) -2.18
Trading Signals
Description Value Chart
Yearly Trendline Resistance 128.67
Yearly Trendline Support 119.92
Upper Bollinger Band 116.67
Parabolic System 116.38
Weekly Stochastic Crossing 116.38
20 Day Moving Average 116.03
Daily Stochastic Crossing 115.24
Lower Bollinger Band 114.54
50 Day Moving Average 114.49
Price 114.47
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 117.07
High Date 11/01/2018
Low 114.14
Low Date 11/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 117.65
High Date 10/26/2018
Low 114.14
Low Date 11/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 111.06
Low Date 08/15/2018
High 117.65
High Date 10/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 111.06
Low Date 08/15/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 128.67
Support 119.92
Low 100.23
Low Date 12/17/2015
High 131.15
High Date 07/06/2016
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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