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March 26, 2021, 1:25 p.m. EDT

Why Investors in Spdr Gold Shares $GLD Consider Price Action to be a Tell

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Mar 26, 2021 (Stock Traders Daily via COMTEX) -- A tell is a precursor of a stock's next move, and investors in Spdr Gold Shares /zigman2/quotes/200593176/composite GLD +0.30% look for these indicators all the time. the good news is, tells are there for investors to see every day. For example, we have provided this data for GLD in the trading plans and summary table offered below. The tell is described there, for you to review. Our 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 .

Technical Summary

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 165.83, 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 166.31. 165.83 is the first level of resistance above 162.42, and by rule, any test of resistance is a short signal. In this case, if resistance 165.83 is being tested, so a short signal would exist.

COMTEX_383434431/2570/2021-03-26T13:24:55

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/200593176/composite
US : U.S.: NYSE Arca
$ 172.10
+0.51 +0.30%
Volume: 7.23M
May 10, 2021 3:37p
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