GDX Stock Tickeron detected bearish ETF Pattern: Broadening Wedge Ascending GDX on November 11, 2024, netting in a 13.09% gain over 2 months

GET DAILY SIGNALS

Get AI intraday signals

GDX - VanEck Gold Miners ETF

Ticker: GDX

Company: VanEck Gold Miners ETF

Gain from shortening: +13.09%

Confirmed: 11/11/24

Succeeded: 12/17/24

Total length: 82 days

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.