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Advanced TA SearchArchive
- 4/19/2024 -
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streetTRACKS Gold Shares (GLD) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fifth consecutive positive week for the streetTRACKS Gold Shares (GLD). During the week, the GLD gained 4.14 points, or 1.91%, and closed at 221.03 on Friday, April 19, 2024. Weekly volume was 39% 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 225.09 on April 12, 2024. GLD gained -124.86 points, or -124.57%, in 434 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 161.18 and resistance is at 251.72. 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 long-term trend.
 Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on October 5, 2023 at 168.30 and reached 225.09 on April 12, 2024. GLD gained -56.79 points, or -33.74%, in 27 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (188.72) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 1, 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 GLD short-term trend chart]
A short-term uptrend had started on March 19, 2024 at 198.94 and reached 225.09 on April 12, 2024. GLD gained -26.15 points, or -13.14%, in 24 days. The price is now at the 15.53% retracement level.
 Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since March 27, 2024. 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.
The distance between the Bollinger Bands is 143.57% higher then one year average. It indicates the period of high 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.
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