Below are the downside targets for the SPDR Gold Shares (GLD).
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$124.16 (intermediate target)
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$106.27 (mid-range target)
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$52.60 (extreme target)
The $124.16 level is not an “official” downside level as it is only an intermediate point on the way to the actual level of $106.27. As we’ve seen in the past, the extreme downside target is always the concern. For GLD the extreme downside target is $52.60.
Top three stocks, commodities, or indexes that achieved our downside targets by year:
2020
2019
2018
2017
2016
How do we use Speed Resistance Lines? Once a target is achieved we assess the possibility of investment. If the target is not achieved we move on to the next stock.
There are approximately 15% to 20% of the SRLs that we’ve run that haven’t come to fruition, yet. However, in this current market decline, many that weren’t fulfilled are now getting completed.
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