ABSL MF GOLD / RGLR ETF Forecast

ABSL MF GOLD / RGLR ETF downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)

BSLGOLDETF.NS Signals & Forecast

The ABSL MF GOLD / RGLR ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately ₹64.90. On a fall, the ETF will find some support from the long-term average at approximately ₹61.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ABSL MF GOLD / RGLR ETF

ABSL MF GOLD / RGLR finds support from accumulated volume at ₹64.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved ₹1.25 between high and low, or 1.96%. For the last week, the ETF has had daily average volatility of 2.25%.

Our recommended stop-loss: ₹61.40 (-4.58%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (BSLGOLDETF.NS) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect ABSL MF GOLD ETF/ETF RGLR to open at ₹64.29, and during the day (based on 14 day Average True Range), to move between ₹63.05 and ₹65.65, which gives a possible trading interval of +/-₹1.30 (+/-2.03%) up or down from last closing price. If ABSL MF GOLD ETF/ETF RGLR takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹64.09 (0.40%) than the resistance at ₹64.65 (0.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ABSL MF GOLD ETF/ETF RGLR ETF A Buy?

ABSL MF GOLD / RGLR holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.644 Hold/Accumulate Downgraded

Predicted Opening Price for ABSL MF GOLD ETF/ETF RGLR of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.