Momentum Indicator for GDX turns negative, indicating new downward trend
GDX saw its Momentum Indicator move below the 0 level on December 13, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 87 similar instances where the indicator turned negative. In of the 87 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for GDX turned negative on December 17, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GDX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for GDX entered a downward trend on November 25, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where GDX's RSI Oscillator exited the oversold zone, of 32 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GDX advanced for three days, in of 286 cases, the price rose further within the following month. The odds of a continued upward trend are .
GDX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
General Information
Category PreciousMetals
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| MLPX | 59.60 | 1.13 | +1.93% |
| Global X MLP & Energy Infrastructure ETF | |||
| GSFP | 31.13 | 0.25 | +0.81% |
| Goldman Sachs Future Planet Equity ETF | |||
| FIIG | 20.54 | 0.11 | +0.54% |
| First Trust Intermediate DurInvGrdCrpETF | |||
| RVNU | 25.30 | 0.13 | +0.51% |
| Xtrackers Municipal Infras Rev Bd ETF | |||
| GGLS | 12.16 | -0.19 | -1.54% |
| Direxion Daily GOOGL Bear 1X ETF | |||
GDX and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, GDX has been closely correlated with RING. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if GDX jumps, then RING could also see price increases.
| Ticker / NAME | Correlation To GDX | 1D Price Change % | ||
|---|---|---|---|---|
| GDX | 100% | +0.99% | ||
| RING - GDX | 99% Closely correlated | +1.53% | ||
| GDXJ - GDX | 98% Closely correlated | +0.77% | ||
| SGDM - GDX | 97% Closely correlated | +1.08% | ||
| GOAU - GDX | 96% Closely correlated | +0.59% | ||
| GOEX - GDX | 96% Closely correlated | +0.88% | ||
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