Investor Alert

Jan. 29, 2021, 8:33 p.m. EST

How to trade Spdr Gold Shares $GLD With Risk Controls

Jan 29, 2021 (Stock Traders Daily via COMTEX) -- The Spdr Gold Shares (PSE:GLD) report below can help you, but we have more details too. The trading plans for GLD, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports .

Technical Summary

Bias Neutral Neutral Strong
P1 0 0 175.12
P2 172.39 172.58 184.67
P3 173.51 174.88 194.41

The Technical Summary and Trading Plans for GLD help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this GLD Report.

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

The technical summary data is suggesting a short of GLD as it gets near 175.12, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 175.63. 175.12 is the first level of resistance above 173.19, and by rule, any test of resistance is a short signal. In this case, if resistance 175.12 is being tested, so a short signal would exist.


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