When the Price of (GDX) Talks, People Listen
May 08, 2024, 07:12 am ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for GDX
- Buy GDX slightly over 33.23 target n/a stop loss @ 33.13. Details
The technical summary data tells us to buy GDX near 33.23, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 33.13 to protect against excessive loss in case the stock begins to move against the trade. 33.23 is the first level of support below 34.06, and by rule, any test of support is a buy signal. In this case, if support 33.23 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for GDX
- Buy GDX slightly over 34.79, target n/a, Stop Loss @ 34.69 Details
If 34.79 begins to break higher, the technical summary data tells us to buy GDX just slightly over 34.79, with an upside target of n/a. The data also tells us to set a stop loss @ 34.69 in case the stock turns against the trade. 34.79 is the first level of resistance above 34.06, and by rule, any break above resistance is a buy signal. In this case, 34.79, 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 34.79, target 33.44, Stop Loss @ 34.89. Details
The technical summary data is suggesting a short of GDX if it tests 34.79 with a downside target of 33.44. We should have a stop loss in place at 34.89 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, 34.79, 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 34.52, target 34.79, Stop Loss @ 34.44 Details
If 34.52 begins to break higher, the technical summary data tells us to buy GDX just slightly over 34.52, with an upside target of 34.79. The data also tells us to set a stop loss @ 34.44 in case the stock turns against the trade. 34.52 is the first level of resistance above 34.06, and by rule, any break above resistance is a buy signal. In this case, 34.52, 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 34.52, target 33.97, Stop Loss @ 34.6. Details
The technical summary data is suggesting a short of GDX if it tests 34.52 with a downside target of 33.97. We should have a stop loss in place at 34.6 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, 34.52, 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 May 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Neutral |
| P1 |
0 |
0 |
27.45 |
| P2 |
33.97 |
33.44 |
30.29 |
| P3 |
34.52 |
34.79 |
33.23 |
AI Generated Signals for GDX
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Vaneck Gold Miners Etf (NYSE: GDX) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for GDX can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for GDX:
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