Trade Alert: Market Vectors Gold Miners ETF (NYSEARCA:GDX)

Market Vectors Gold Miners ETF (NYSEARCA:GDX) shares crack the 50-Day Moving Average

Wednesday shares of Market Vectors Gold Miners ETF closed above the 50-Day Moving Average at 44.13.

This is relevant given that it may be viewed as a sign of strength from a technical POV.

The relationship between the stock price and it's moving average is important as it will set the stage for how investors perceive the trend. As long as the stock movement maintains it's current trajectory, investors will view it as a sign of Bullishness.

The development of support levels is critical for the entry and exit strategy.

Based on the pivot pts, the current support and resistance levels for GDX are 43.82 and 48.24 respectively.

Investors will be monitoring the price closely as it trades in this range.

Market Vectors Gold Miners ETF has market cap of 5.63-B and is part of the financial sector and exchange traded fund industry.

Performance indicators show that the stock has lost 0.68% within the last week.

Performance Metrics

Week Month Quarter Half Year Year
-0.68 % 4.20 % 11.67 % -18.30 % -27.66 %

Analysis Overall Short Intermediate Long
Neutral (-0.07) Neutral (0.16) Neutral (0.01) Bearish (-0.39)

Recent CandleStick Analysis Bearish
Date Candle
13 Aug 2012 Bearish Engulfing

Support and Resistance
Type Value Conf.
resist. 57.44 2
resist. 54.47 2
resist. 51.57 2
resist. 50.74 3
resist. 49.77 2
resist. 48.24 11
resist. 46.46 9
resist. 45.32 5
supp 43.82 11
supp 42.59 2
supp 41.99 2
supp 40.70 2
supp 39.34 2

Technical Indicators
Ind. Short Inter Long
EMA VBu Bu N
MACD VBu Bu VBe
RSI Bu
TDD Be
Fibs Bu Be Be
Highs VBe Be VBe
Lows VBu N VBe
Trends N Bu N
Stoch. Be
VBu=Very Bullish, Bu=Bullish
N=Neutral
Be=Bearish, VBe=Very Bearish

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.