VanEck Junior Gold Miners ETF (GDXJ) - 1st December 2023 | @ 149 Days
Last trade: - 24.36% | 'C' class signal detected in VanEck Junior Gold Miners ETF (GDXJ). Running at an average wavelength of 149 days over 12 iterations since January 2019. Signal retired.
Instrument Summary
The VanEck Junior Gold Miners ETF (GDXJ) is an exchange-traded fund that tracks the performance of junior gold mining companies. Launched in 2009, it offers investors exposure to smaller, high-growth potential gold mining firms worldwide. GDXJ's portfolio consists mainly of small-cap companies engaged in gold exploration, development, and production.
ΣL Cycle Summary
This highly modulated wave in the VanEck Junior Gold Miners is analogous to the wave around 137 days in GDX and so will be retired from Sigma-L for the sake of avoiding excessive duplication. It does suffer from significantly more frequency modulation than the same signal in GDX - traders should probably refer to the main ETF as far as periodicities are concerned in any case.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Late Sell - GDXJ 3rd October 2023
Entry: 3rd October 2023 @ 31.16
Exit: 1st December 2023 @ 38.75
Gain: - 24.36%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: C - learn more
Average Wavelength: 149.19 Days
Completed Iterations: 12
Component Yield Over Sample: 210.03% - learn more