The Greedy Trader Weekly Analysis
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streetTRACKS Gold Shares
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Summary:
Weekly :Broken trend resistance line
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger BandsThe 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 gave back -0.72 points, or -0.59%, and closed at 121.60 on Friday, December 01, 2017. It was the worst weekly loss since October 27, 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 Symmetric Triangle chart pattern. The trend support level is at 113.53 and resistance is at 127.75. 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 downtrend had started on September 7, 2017 at 128.32 and reached 119.78 on October 6, 2017. GLD lost 8.54 points, or 6.66%, in 4 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (120.56) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a medium-term trend.

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

The weekly MACD line is below its signal line since October 13, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term uptrend had started on November 3, 2017 at 120.18 and reached 123.33 on November 27, 2017. GLD gained -3.15 points, or -2.62%, in 24 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since November 3, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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 distance between the Bollinger Bands is falling, and it was 2.07% on Friday. It is 60.95% 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. Such crossover is considered a bearish signal. 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) 52.96
Williams' Percentage Range (W%R) 75.90
Lane's Stochastic (%D-Slow) 50.84
Greed/Fear Indicator (GFI) 42.64
Moving Average Converg./Diverg. (MACD) 0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.38
Williams' Percentage Range (W%R) 58.30
Lane's Stochastic (%D-Slow) 31.27
Greed/Fear Indicator (GFI) 38.06
Moving Average Converg./Diverg. (MACD) 0.86
Trading Signals
Description Value Chart
Yearly Trendline Resistance 127.75
Parabolic System 123.40
Upper Bollinger Band 123.11
50 Day Moving Average 121.81
Daily Stochastic Crossing 121.81
20 Day Moving Average 121.75
Price 121.60
Weekly Stochastic Crossing 121.27
Lower Bollinger Band 120.58
Weekly Trendline Support 120.56
Weekly Trendline Resistance 118.65
Yearly Trendline Support 113.53
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 120.18
Low Date 11/03/2017
High 123.33
High Date 11/27/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 118.65
Support 120.56
High 128.32
High Date 09/07/2017
Low 119.78
Low Date 10/06/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 107.00
Low Date 12/15/2016
High 128.32
High Date 09/07/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 131.15
High Date 07/06/2016
Low 107.00
Low Date 12/15/2016
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 127.75
Support 113.53
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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