Perth Mint Physical Gold ETF Forecast
Red day on Friday for Perth Mint Physical Gold
(Updated on Jun 21, 2024)
The Perth Mint Physical Gold ETF price fell by -1.61% on the last day (Friday, 21st Jun 2024) from $23.35 to $22.98. During the last trading day the ETF fluctuated 1.70% from a day low at $22.92 to a day high of $23.31. The price has risen in 6 of the last 10 days but is still down by -2.11% for this period. Volume has increased on the last day by 646 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $47.52 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 3.19% during the next 3 months and, with a 90% probability hold a price between $22.88 and $25.06 at the end of this 3-month period.
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AAAU Signals & Forecast
There are few to no technical positive signals at the moment. The Perth Mint Physical Gold ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.02 and $23.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -4.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Perth Mint Physical Gold ETF
Perth Mint Physical Gold finds support from accumulated volume at $22.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.390 between high and low, or 1.70%. For the last week the ETF has had daily average volatility of 0.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AAAU) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Perth Mint Physical Gold ETF to open at $23.07, and during the day (based on 14 day Average True Range), to move between $22.67 and $23.28, which gives a possible trading interval of +/-$0.302 (+/-1.31%) up or down from last closing price. If Perth Mint Physical Gold ETF takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.07 (0.39%) than the support at $22.67 (1.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Perth Mint Physical Gold ETF ETF A Buy?
The Perth Mint Physical Gold ETF holds several negative signals and despite the positive trend, we believe Perth Mint Physical Gold will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.444 Sell Candidate Unchanged
Predicted Opening Price for Perth Mint Physical Gold ETF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $23.07 ( 0.407%) | $22.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAAU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.46 | 2.11% |
| R2 | 23.31 | 1.46% |
| R1 | 23.22 | 1.06% |
| Price | 22.98 | |
| S1 | 22.92 | -0.242% |
| S2 | 22.83 | -0.643% |
| S3 | 22.68 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.56 | 2.55% |
| R2 | 23.08 | 0.435% |
| R1 | 23.07 | 0.392% |
| Price | 22.98 | |
| S1 | 22.67 | -1.35% |
| S2 | 22.63 | -1.52% |
| S3 | 22.55 | -1.85% |
FAQ
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