NEW YORK (AVAFIN) -- On Wednesday shares of SPDR Gold Shares closed above the 50-day moving average of
$156.84. This development is relevant given that it may be viewed as a sign of strength from a technical
perspective. 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.
Fundamental changes that are above or below investors expectations trigger the development
of support levels. This development is the probably the most noticeable and
reoccurring event on stock charts that can serve as a key data point. Based on the pivot points,
the current support and resistance levels for GLD are within the $155.84 - $158.30 range.
SPDR Gold Shares has market cap of 66.32B and is part of the financial sector and exchange traded fund industry.
Recent performance indicators show that
the stock has gained 3.83% within the last month.