Take a Shine to This Gold ETF

By Sam Collins,

Shutterstock photo


Market Vectors Gold Miners ETF ( GDX ) -- This exchange-traded fund ( ETF ), which attempts to replicate the price and yield performance of the Amex Gold Miners Index, has made for some successful trades for us throughout the past year.  

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GDX Chart

Chart Legend

GDX is in a bull market with the support line and the 200-day moving average at $46.

GDX appears to be in buying range again with a trading target of $55 -- a double-top . But if the double-top is broken, look for a long-term target of $75. 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Investing Ideas
Referenced Stocks: ETF , GDX

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