Vaneck Vectors Gold Miners Etf (GDX) Trading Report

July 12, 2021, 11:00 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Vaneck Vectors Gold Miners Etf (NYSE: GDX) while incorporating prudent risk controls.

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.

Longer Term Trading Plans for GDX

• Buy GDX slightly over 34.20 target 37.41 stop loss @ 34.1 Details

The technical summary data tells us to buy GDX near 34.20 with an upside target of 37.41. This data also tells us to set a stop loss @ 34.1 to protect against excessive loss in case the stock begins to move against the trade. 34.20 is the first level of support below 34.51 , and by rule, any test of support is a buy signal. In this case, support 34.20 is being tested, a buy signal would exist.

• Short GDX under 37.41, target 34.20, stop loss @ 37.52 Details

The technical summary data is suggesting a short of GDX as it gets near 37.41 with a downside target of 34.20. We should have a stop loss in place at 37.52though. 37.41 is the first level of resistance above 34.51, and by rule, any test of resistance is a short signal. In this case, if resistance 37.41 is being tested, a short signal would exist.

Swing Trading Plans for GDX

• Buy GDX slightly over 37.41, target n/a, Stop Loss @ 37.3 Details

If 37.41 begins to break higher, the technical summary data tells us to buy GDX just slightly over 37.41, with an upside target of n/a. The data also tells us to set a stop loss @ 37.3 in case the stock turns against the trade. 37.41 is the first level of resistance above 34.51, and by rule, any break above resistance is a buy signal. In this case, 37.41, 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 near 37.41, target 34.35, Stop Loss @ 37.52. Details

The technical summary data is suggesting a short of GDX if it tests 37.41 with a downside target of 34.35. We should have a stop loss in place at 37.52 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, 37.41, 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 34.55, target 37.41, Stop Loss @ 34.47 Details

If 34.55 begins to break higher, the technical summary data tells us to buy GDX just slightly over 34.55, with an upside target of 37.41. The data also tells us to set a stop loss @ 34.47 in case the stock turns against the trade. 34.55 is the first level of resistance above 34.51, and by rule, any break above resistance is a buy signal. In this case, 34.55, 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 near 34.55, target 33.86, Stop Loss @ 34.63. Details

The technical summary data is suggesting a short of GDX if it tests 34.55 with a downside target of 33.86. We should have a stop loss in place at 34.63 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, 34.55, 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.

GDX Ratings for July 12:

Term →	Near	Mid	Long
Rating	Strong	Weak	Weak
P1	0	0	31.18
P2	33.86	33.54	34.20
P3	34.55	34.35	37.41

Support and Resistance Plot Chart for GDX

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.