SPDR Gold Shares (GLD) Stock is Today's 'Chart of the Day'

NEW YORK (TheStreet) -- SPDR Gold Shares (GLD) stock is up by 1.56%% to $114.07 in early afternoon trading on Monday.

The New York City-based investment trust holds gold and issues shares in exchange for deposits of gold. 

Gold prices are up by 3.19% to $1,194.50 per ounce on the COMEX this afternoon. Gold is up about 12% year-to-date, according to the CNBC.com index.

TheStreet's Chris Versace and Bob Lang of Trifecta Stocks have identified SPDR Gold Shares as the "Chart of the Day." Here is what Versace and Lang had to say about the company:

Clearly, the biggest winner for the year so far has been gold. The yellow metal is up a robust 11% for the first five weeks of 2016, and closing on its high for the week and for the last three months certainly didn't dissuade anyone from piling on.

The chart shows a nice surge over the 200-day moving average last week on very high turnover. This is action we have not seen for months from gold, and off the double bottom in December this move is certainly impressive.

Relative strength also signals power, but it may stall out here. Given the fact the dollar was up strong Friday and gold surged, end of day says there may be more fuel in the tank.

Gold is one of the strongest charts out there. After a bit of a pullback, this could continue.

 -Chris Versace and Bob Lang "Chart of the Day: GLD" originally published on 02/08/16 on Trifecta Stocks.

Want more like this from Chris Versace and Bob Lang BEFORE your stock moves? Learn more about Trifecta Stocks now!

 

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