VANECK GOLD MINERS ETF (GDX) Stock Technical Analysis
NYSEARCA:GDX - NYSE Arca - US92189F1066 - ETF - Currency: USD
We assign a technical rating of 10 out of 10 to GDX. 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.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that GDX is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, GDX also shows a nice and consistent pattern of rising prices.
GDX is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month GDX has a been trading in the 50.45 - 58.81 range, which is quite wide. It is currently trading near the high of this range.
GDX has an average volume of 20134400 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
58.64
We found 4 important support areas.
- A support zone ranging from 50.72 to 53.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @39.79 from a trend line in the weekly time frame.
- Support @35.23 from a trend line in the weekly time frame.
- Support @33.41 from a horizontal line in the weekly 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 | 89.28 | POSITIVE | GDX has a high relative strength, it outperformed 89.28% 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) | 68.81 | NEUTRAL | The RSI value for GDX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.57 | POSITIVE | The MACD value suggests GDX has a positive trend. |
| Stochastics (14,3) | 94.11 | OVERBOUGHT | The high Stochastics value suggests GDX may be overbought. |
| Average True Range in percent/ATR (20) | 2.41 | MEDIUM VOLATILITY | The ATR as a percentage value for GDX suggests some volalility. |
| Average Directional Index/ADX (14) | 18.35 | 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)
58.06
+0.12 (+0.21%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.21%
1 Week10.7%
2 Weeks7.6%
1 Month10.76%
3 Month15.27%
6 Month42.1%
12 Month62%
2 Year98.43%
3 Year143.95%
5 Year37.36%
10 Year311.48%
15 Year8.3%
Volatility
ATR(14)1.4
ATR(20)%2.41%
ATR Inc-29.36%
Range Today0.97
ADR(20)1.22
ADR(20)%2.1%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.28
Mansfield2.26
10 Day High58.81
10 Day Low51.37
20 Day High58.81
20 Day Low50.45
52 Week High58.81
52 Week Low33.42
CS1 End53.67
CR1 StartN/A
Volume & EV
DER(3)2.18%
DER(5)3.28%
Volume18.21M
Volume Incr19.6%
Vol(5)23.38M
Vol(50)20.13M