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Advanced TA SearchArchive
- 4/19/2024 -
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Market Vectors Gold Miners (GDX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Market Vectors Gold Miners (GDX). During the week, the GDX climbed 0.31 points, or 0.92%, and closed at 34.07 on Friday, April 19, 2024. Weekly volume was 20% above average.
 Long-term trend: [See GDX long-term trend chart]
A long-term downtrend had started on May 4, 2023 at 36.26 and reached 25.62 on October 4, 2023. GDX lost 10.64 points, or 29.34%, in 21 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (25.69) 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 long-term trend.
 Medium-term trend: [See GDX medium-term trend chart]
A medium-term uptrend had started on February 28, 2024 at 25.67 and reached 35.74 on April 12, 2024. GDX gained -10.07 points, or -39.23%, in 6 weeks. The price is now at the 16.58% retracement level.
 Weekly Technical Indicators: [See GDX 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 March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 12, 2024 at 35.74 and reached 32.43 on April 16, 2024. GDX lost 3.31 points, or 9.26%, in 4 days. The price is now at the 49.55% retracement level.
 Daily Technical Indicators: [See GDX daily technical indicators chart]
Daily technical indicators are neutral.
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.
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