VANECK GOLD MINERS ETF (GDX) Stock Technical Analysis
NYSEARCA:GDX - NYSE Arca - US92189F1066 - ETF - Currency: USD
Taking everything into account, GDX scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GDX is showing a nice and steady performance.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that GDX is one of the better performing stocks in the market, outperforming 93% of all stocks. On top of that, GDX also shows a nice and consistent pattern of rising prices.
GDX is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so GDX is performing more or less in line with the market.
In the last month GDX has a been trading in the 45.10 - 50.83 range, which is quite wide. It is currently trading near the high of this range.
GDX has an average volume of 24259800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although GDX has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
33.08
52.44
6 important support areas can be observed.
- A support zone ranging from 47.24 to 48.33. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 46.32 to 46.39. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- A support zone ranging from 45.29 to 45.54. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @43.88 from a trend line in the daily time frame.
- Support @37.89 from a trend line in the weekly time frame.
- Support @33.41 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- Resistance @51.92 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for GDX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GDX is up. |
| ChartMill Relative Strength | 93.4 | POSITIVE | GDX has a high relative strength, it outperformed 93.4% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GDX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GDX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GDX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.08 | NEUTRAL | The RSI value for GDX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests GDX has a positive trend. |
| Stochastics (14,3) | 80.57 | OVERBOUGHT | The high Stochastics value suggests GDX may be overbought. |
| Average True Range in percent/ATR (20) | 2.91 | MEDIUM VOLATILITY | The ATR as a percentage value for GDX suggests some volalility. |
| Average Directional Index/ADX (14) | 15.13 | NEGATIVE | The low ADX value for GDX suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
50.53
+1.35 (+2.75%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.75%
1 Week9.07%
2 Weeks0.32%
1 Month3.52%
3 Month23.85%
6 Month32%
12 Month43.31%
2 Year63.47%
3 Year59.25%
5 Year47.23%
10 Year158.07%
15 Year1.34%
Volatility
ATR(14)1.49
ATR(20)%2.91%
ATR Inc-19.61%
Range Today1.04
ADR(20)1.05
ADR(20)%2.08%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.4
Mansfield2.46
10 Day High50.79
10 Day Low45.1
20 Day High50.83
20 Day Low45.1
52 Week High53.25
52 Week Low32.84
CS1 End48.33
CR1 Start51.92
Volume & EV
DER(3)-4.06%
DER(5)0.08%
Volume24.17M
Volume Incr-9.37%
Vol(5)22.16M
Vol(50)24.26M