L&g Gold Mining Ucits Etf ETF Forecast
Weaker technical forecast for L&g Gold Mining Ucits Etf as ETF downgraded to Strong Sell Candidate.
(Updated on Jun 26, 2024)
The L&g Gold Mining Ucits Etf ETF price fell by -1.41% on the last day (Wednesday, 26th Jun 2024) from 34.39€ to 33.90€. During the last trading day the ETF fluctuated 1.64% from a day low at 33.90€ to a day high of 34.45€. The price has fallen in 5 of the last 10 days but is still up by 0.34% over the past 2 weeks. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately 106.72€ 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 -4.44% during the next 3 months and, with a 90% probability hold a price between 31.13€ and 33.08€ 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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AUCO.MI Signals & Forecast
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 L&g Gold Mining Ucits Etf 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 34.10€ and 34.31€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.84%. Further fall is indicated until a new bottom pivot has been found. L&g Gold Mining Ucits Etf 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".
Support, Risk & Stop-loss for L&g Gold Mining Ucits Etf ETF
L&g Gold Mining Ucits Etf finds support from accumulated volume at 33.66€ 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 0.555€ (1.64%) between high and low. For the last week, the ETF has had daily average volatility of 1.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AUCO.MI) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect L&g Gold Mining Ucits Etf to open at 34.08€, and during the day (based on 14 day Average True Range), to move between 33.27€ and 34.53€, which gives a possible trading interval of +/-0.627€ (+/-1.85%) up or down from last closing price. If L&g Gold Mining Ucits Etf takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 33.66€ (0.71%) than the resistance at 34.92€ (3.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is L&g Gold Mining Ucits Etf ETF A Buy?
L&g Gold Mining Ucits Etf 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 Sell to a Strong Sell candidate.
Current score: -5.051 Strong Sell Candidate Downgraded
Predicted Opening Price for L&g Gold Mining Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 34.08€ ( 0.536%) | 33.90€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUCO.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.64 | 2.17% |
| R2 | 34.42 | 1.55% |
| R1 | 34.29 | 1.16% |
| Price | 33.90 | |
| S1 | 33.87 | -0.0895% |
| S2 | 33.74 | -0.476% |
| S3 | 33.53 | -1.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.51 | 4.75% |
| R2 | 35.32 | 4.19% |
| R1 | 34.92 | 3.01% |
| Price | 33.90 | |
| S1 | 33.66 | -0.708% |
| S2 | 33.63 | -0.796% |
| S3 | 33.15 | -2.23% |
FAQ
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