VANECK GOLD MINERS ETF (GDX) Stock Technical Analysis
NYSEARCA:GDX • US92189F1066
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.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, GDX did better than 96% of all other 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 however is currently trading near a new high, so GDX is lagging the market slightly.
- GDX has an average volume of 27029900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month GDX has a been trading in the 92.00 - 113.50 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, GDX also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 95.25, a Stop Loss order could be placed below this zone.
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84.57
2 important support areas can be observed.
- A support zone ranging from 91.74 to 95.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @85.42 from a trend 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 | 96.88 | POSITIVE | GDX has a high relative strength, it outperformed 96.88% 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) | 55.84 | NEUTRAL | The RSI value for GDX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.41 | NEGATIVE | The MACD value suggests GDX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 49.91 | NEUTRAL | The Stochastics value for GDX is a neutral value. |
| Average True Range in percent/ATR (20) | 5.44 | HIGH VOLATILITY | The high ATR as a percentage value for GDX suggests high volalility. |
| Average Directional Index/ADX (14) | 19.87 | NEGATIVE | The low ADX value for GDX suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 106.48 | 91.99 | 14.49 (13.61%) | 7.35% |
| An entry @106.48. This is a Buy Stop order right above the 10 day high. | An exit @91.99. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 14.49 points, which is 13.61%. | When investing 7.35% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
103.94
+5.66 (+5.76%)
VANECK GOLD MINERS ETF / GDX FAQ
Can you provide the ChartMill technical rating for VANECK GOLD MINERS ETF?
ChartMill assigns a technical rating of 10 / 10 to GDX.
Can you provide the trend direction for VANECK GOLD MINERS ETF?
The current trend direction for VANECK GOLD MINERS ETF (GDX) is Bullish.
What is the RSI signal for VANECK GOLD MINERS ETF (GDX) stock?
VANECK GOLD MINERS ETF (GDX) has an RSI value of 55.8428. This indicates that the stock is currently neutral.
What is the MACD signal for VANECK GOLD MINERS ETF (GDX) stock?
The MACD indicator for VANECK GOLD MINERS ETF (GDX) has a value of -0.412705, indicating a bearish trend.
What are the support and resistance levels for VANECK GOLD MINERS ETF (GDX) stock?
VANECK GOLD MINERS ETF (GDX) has a support level at 95.25. Check the full technical report for our detailed analysis of GDX support and resistance levels.