(GDX) Long Term Investment Analysis

June 08, 2024, 22:44 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for GDX

• Buy GDX slightly over 32.25 target 35.57 stop loss @ 32.16 Details

The technical summary data tells us to buy GDX near 32.25 with an upside target of 35.57. This data also tells us to set a stop loss @ 32.16 to protect against excessive loss in case the stock begins to move against the trade. 32.25 is the first level of support below 33.54 , and by rule, any test of support is a buy signal. In this case, support 32.25 is being tested, a buy signal would exist.

• Short GDX slightly under 35.57, target 32.25, stop loss @ 35.67 Details

The technical summary data is suggesting a short of GDX as it gets near 35.57 with a downside target of 32.25. We should have a stop loss in place at 35.67though. 35.57 is the first level of resistance above 33.54, and by rule, any test of resistance is a short signal. In this case, if resistance 35.57 is being tested, a short signal would exist.

Swing Trading Plans for GDX

• Buy GDX slightly over 33.89, target 35.2, Stop Loss @ 33.79 Details

If 33.89 begins to break higher, the technical summary data tells us to buy GDX just slightly over 33.89, with an upside target of 35.2. The data also tells us to set a stop loss @ 33.79 in case the stock turns against the trade. 33.89 is the first level of resistance above 33.54, and by rule, any break above resistance is a buy signal. In this case, 33.89, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GDX slightly near 33.89, target 32.25, Stop Loss @ 33.99. Details

The technical summary data is suggesting a short of GDX if it tests 33.89 with a downside target of 32.25. We should have a stop loss in place at 33.99 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 33.89, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GDX

• Buy GDX slightly over 33.6, target 33.89, Stop Loss @ 33.52 Details

If 33.6 begins to break higher, the technical summary data tells us to buy GDX just slightly over 33.6, with an upside target of 33.89. The data also tells us to set a stop loss @ 33.52 in case the stock turns against the trade. 33.6 is the first level of resistance above 33.54, and by rule, any break above resistance is a buy signal. In this case, 33.6, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GDX slightly near 33.6, target 32.25, Stop Loss @ 33.68. Details

The technical summary data is suggesting a short of GDX if it tests 33.6 with a downside target of 32.25. We should have a stop loss in place at 33.68 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 33.6, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Vaneck Gold Miners Etf (GDX) available here: GDX.

GDX Ratings for June 08:

Term →	Near	Mid	Long
Rating	Weak	Weak	Neutral
P1	0	0	29.09
P2	33.6	33.89	32.25
P3	35.08	35.2	35.57

AI Generated Signals for GDX

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Technically, Vaneck Gold Miners Etf (NYSE: GDX) provides opportunities for traders who are watching the price of the stock oscillate over time.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for GDX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if GDX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for GDX too.  All of these are offered below the Summary Table.