The Greedy Trader Weekly Analysis
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streetTRACKS Gold Shares
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Summary:
Weekly :Lane's Stochastic is overbought
Daily :Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldPrice is close to 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 streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -1.65 points, or -1.31%, and closed at 124.74 on Friday, February 09, 2018. Weekly volume was 66% 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 trend support level is at 118.15 and resistance is at 127.30. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric 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 Broadening Ascending Wedge chart pattern. The trend support level is at 117.77 and resistance is at 133.91. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 above its signal line since January 5, 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 January 25, 2018 at 129.51 and reached 124.39 on February 9, 2018. GLD lost 5.12 points, or 3.95%, in 15 days. The price is now at the 6.84% 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. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

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.

Price is close to the 50 Day Moving Average. While 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) 40.44
Williams' Percentage Range (W%R) 94.90
Strong Oversold
Lane's Stochastic (%D-Slow) 11.73
Oversold
Greed/Fear Indicator (GFI) 19.08
Oversold
Moving Average Converg./Diverg. (MACD) 0.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.01
Williams' Percentage Range (W%R) 40.10
Lane's Stochastic (%D-Slow) 84.94
Overbought
Greed/Fear Indicator (GFI) 66.56
Moving Average Converg./Diverg. (MACD) 0.91
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 133.91
Monthly Trendline Support 131.75
Monthly Trendline Resistance 128.97
Upper Bollinger Band 128.14
Weekly Stochastic Crossing 127.58
Yearly Trendline Resistance 127.30
Parabolic System 127.30
20 Day Moving Average 126.71
Price 124.74
Daily Stochastic Crossing 124.74
50 Day Moving Average 123.67
Lower Bollinger Band 123.65
Yearly Trendline Support 118.15
Quarterly Trendline Support 117.77
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 128.15
High Date 02/01/2018
Low 124.39
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 124.39
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 128.97
Support 131.75
Low 117.40
Low Date 12/12/2017
High 129.51
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 133.91
Support 117.77
Low 107.00
Low Date 12/15/2016
High 129.51
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 127.30
Support 118.15
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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