GUGGENHEIM S&P GLOBAL WATER INDEX ETF Forecast
GUGGENHEIM S&P GLOBAL WATER INDEX ETF upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The GUGGENHEIM S&P GLOBAL WATER INDEX ETF price fell by -0.409% on the last day (Wednesday, 24th Apr 2024) from $55.36 to $55.13. During the last trading day the ETF fluctuated 0.711% from a day low at $54.84 to a day high of $55.23. The price has risen in 6 of the last 10 days and is up by 2% over the past 2 weeks. Volume has increased on the last day by 14 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, 43 thousand shares were bought and sold for approximately $2.36 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 7.02% during the next 3 months and, with a 90% probability hold a price between $57.41 and $61.01 at the end of this 3-month period.
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CGW Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -0.88%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The GUGGENHEIM S&P GLOBAL WATER INDEX ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $54.26 and $54.61. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for GUGGENHEIM S&P GLOBAL WATER INDEX ETF
GUGGENHEIM S&P GLOBAL WATER INDEX finds support from accumulated volume at $53.36 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 0.711%. For the last week the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: $53.49 (-2.97%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (CGW) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect GUGGENHEIM S&P GLOBAL WATER INDEX ETF GUGGENHEIM S&P GLOBAL WATER INDEX ETF to open at $55.06, and during the day (based on 14 day Average True Range), to move between $54.54 and $55.72, which gives a possible trading interval of +/-$0.594 (+/-1.08%) up or down from last closing price. If GUGGENHEIM S&P GLOBAL WATER INDEX ETF GUGGENHEIM S&P GLOBAL WATER INDEX ETF takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.26 (0.24%) than the support at $53.36 (3.21%), 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 GUGGENHEIM S&P GLOBAL WATER INDEX ETF GUGGENHEIM S&P GLOBAL WATER INDEX ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.156 Buy Candidate Upgraded
Predicted Opening Price for GUGGENHEIM S&P GLOBAL WATER INDEX ETF GUGGENHEIM S&P GLOBAL WATER INDEX ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $55.06 ( 0.121%) | $55.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.45 | 0.586 % | |
| R2 | 55.30 | 0.316 % | ||
| R1 | 55.21 | 0.149 % | ||
| Current price: | 55.13 | |||
| Support | S1 | 54.91 | -0.391 % | |
| S2 | 54.82 | -0.558 % | ||
| S3 | 54.67 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.62 | 0.89 % | |
| R2 | 55.45 | 0.580 % | ||
| R1 | 55.26 | 0.236 % | ||
| Current price | 55.13 | |||
| Support | S1 | 53.36 | -3.21% | |
| S2 | 53.08 | -3.72% | ||
| S3 | 50.96 | -7.56% |
CGW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.82 | 1.58% |
| 2 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.677 | 1.45% |
| 3 | Dec 17, 2021 | Dec 20, 2021 | Dec 31, 2021 | $0.96 | 1.59% |
| 4 | Jan 24, 2020 | Dec 21, 2020 | Dec 31, 2020 | $0.660 | 1.41% |
| 5 | Jan 18, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.607 | 1.48% |
FAQ
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