The Greedy Trader Weekly Analysis
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streetTRACKS Gold Shares
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Summary:
Weekly :Williams' Percentage Range is oversoldTrend support at 121.91
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldLane's Stochastic and MACD bullish divergence
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It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -2.59 points, or -2.07%, and closed at 122.41 on Friday, May 18, 2018. It was the worst weekly loss since December 8, 2017. GLD was trading at average weekly trading volume.

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 Descending Triangle chart pattern. The trend support level is at 120.49 and resistance is at 128.34. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on December 15, 2016 at 107.00 and reached 129.51 on January 25, 2018. GLD gained -22.51 points, or -21.04%, in 58 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (121.91) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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 weekly MACD line is below its signal line since April 20, 2018. 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 May 11, 2018 at 125.59 and reached 122.01 on May 18, 2018. GLD lost 3.58 points, or 2.85%, in 7 days. The price is now at the 11.17% retracement level.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.83
Williams' Percentage Range (W%R) 99.10
Strong Oversold
Lane's Stochastic (%D-Slow) 16.63
Oversold Bullish
Greed/Fear Indicator (GFI) 16.46
Oversold
Moving Average Converg./Diverg. (MACD) -0.67 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.98
Williams' Percentage Range (W%R) 93.20
Strong Oversold
Lane's Stochastic (%D-Slow) 28.22
Greed/Fear Indicator (GFI) 26.49
Moving Average Converg./Diverg. (MACD) 1.07
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 130.49
Yearly Trendline Resistance 128.34
Upper Bollinger Band 126.56
50 Day Moving Average 125.61
Parabolic System 124.89
20 Day Moving Average 124.31
Weekly Stochastic Crossing 123.40
Price 122.41
Daily Stochastic Crossing 122.35
Lower Bollinger Band 122.03
Quarterly Trendline Support 121.91
Yearly Trendline Support 120.49
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 125.59
High Date 05/11/2018
Low 122.01
Low Date 05/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.47
High Date 04/11/2018
Low 122.01
Low Date 05/18/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 122.01
Low Date 05/18/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 130.49
Support 121.91
Low 107.00
Low Date 12/15/2016
High 129.51
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Valid
Resistance 128.34
Support 120.49
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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