Hamilton Gold Producer Yield Maximizer ETF Forecast
Evaluation of Hamilton Gold Producer Yield Maximizer ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Hamilton Gold Producer Yield Maximizer ETF price fell by -1.59% on the last day (Friday, 28th Jun 2024) from $18.86 to $18.56. During the last trading day the ETF fluctuated 1.30% from a day low at $18.48 to a day high of $18.72. The price has been going up and down for this period, and there has been a 2.09% gain for the last 2 weeks. Volume has increased on the last day by 401 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 thousand shares were bought and sold for approximately $37.71 thousand.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -5.81% during the next 3 months and, with a 90% probability hold a price between $16.55 and $17.72 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AMAX.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.77%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hamilton Gold Producer Yield Maximizer 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 $18.64 and $18.82. A break-up above any of these levels will issue buy signals. Hamilton Gold Producer Yield Maximizer gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Hamilton Gold Producer Yield Maximizer ETF
Hamilton Gold Producer Yield Maximizer finds support from accumulated volume at $18.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.240 (1.30%) between high and low. For the last week, the ETF has had daily average volatility of 1.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMAX.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Hamilton Gold Producer Yield Maximizer Etf to open at $18.59, and during the day (based on 14 day Average True Range), to move between $18.15 and $18.97, which gives a possible trading interval of +/-$0.406 (+/-2.19%) up or down from last closing price. If Hamilton Gold Producer Yield Maximizer Etf takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.57 (0.05%) than the support at $18.42 (0.75%), 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 Hamilton Gold Producer Yield Maximizer Etf ETF A Buy?
Hamilton Gold Producer Yield Maximizer holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.824 Sell Candidate Downgraded
Predicted Opening Price for Hamilton Gold Producer Yield Maximizer Etf of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$18.59 ( 0.144%) | $18.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMAX.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 18.83 | 1.44% |
R2 | 18.73 | 0.94% |
R1 | 18.68 | 0.638% |
Price | 18.56 | |
S1 | 18.49 | -0.350% |
S2 | 18.44 | -0.655% |
S3 | 18.35 | -1.15% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 19.36 | 4.31% |
R2 | 19.29 | 3.93% |
R1 | 18.57 | 0.0539% |
Price | 18.56 | |
S1 | 18.42 | -0.754% |
S2 | 18.12 | -2.37% |
S3 | 18.06 | -2.69% |
FAQ
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