{"id":246586,"date":"2012-12-04T10:54:43","date_gmt":"2012-12-04T05:24:43","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=246586"},"modified":"2012-12-04T10:54:44","modified_gmt":"2012-12-04T05:24:44","slug":"analysis-goldbees","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/12\/04\/analysis-goldbees\/","title":{"rendered":"Analysis: GOLDBEES"},"content":{"rendered":"

Today\u2019s pick is GOLDBEES. [stockquote]GOLDBEES[\/stockquote]. The ETF has been in a constant uptrend since the start of this year. However, since touching the 52 weeks high around 3100 levels, the stock corrected to 2950 levels and saw a pullback from the pre-existing trend-line. The 52 week high is currently behaving as a resistance level. In the last three months, the ETF is down -0.5% against 11% rise of Nifty\u2019s. <\/p>\n

\"stock\"<\/a> <\/p>\n

Oscillators RSI<\/a> and CMO<\/a> are at currently at 47 and -16 are closing in towards the over-sold territory. <\/p>\n

MACD<\/a> line has just cut signal line in a bearish manner, suggesting a near term bear run for the stock. <\/p>\n

The long-term and short-term GMMA<\/a> lines are running very close to each other not suggesting any particular direction for the ETF. <\/p>\n

Short-term technical just saw a 9X4 bearish cross over for the ETF.   <\/p>\n

\"cor\"<\/a> <\/p>\n

GOLDBEES\u2019s average correlation<\/a> of -0.014 with the Nifty<\/a> is negative. The ETF will not replicate the movements of Nifty. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

  \"vol\"<\/a> <\/p>\n

GOLDBEES has a historical volatility<\/a> in the range of 0.6 to 1.2. The scrip\u2019s volatility is currently in the middle of the range. <\/p>\n

Looking at these technicals the ETF is short-term hold. <\/strong>A pennant seems to be forming that makes us nervous suggesting a long-term buy. However, it seems to have held its trend-line over the last few trading days. At the risk of sounding too nuanced, we suggest a medium-term buy<\/strong>. We\u2019ll turn long term buyers of the yellow metal once we see a bullish breakout of the pennant.  <\/p>\n

\n
Related articles<\/h6>\n