DB Gold Double Long ETN ETF Forecast
DB Gold Double Long ETN ETF price ended at $55.22 on Tuesday, after gaining 1.06%.
(Updated on May 14, 2024)
The DB Gold Double Long ETN ETF price gained 1.06% on the last trading day (Tuesday, 14th May 2024), rising from $54.64 to $55.22. During the last trading day the ETF fluctuated 0.84% from a day low at $55.22 to a day high of $55.69. The price has been going up and down for this period, and there has been a 4.94% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $324.53 thousand.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $54.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 33.87% during the next 3 months and, with a 90% probability hold a price between $72.66 and $82.12 at the end of this 3-month period.
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DGP Signals & Forecast
The DB Gold Double Long ETN ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $54.53 and $53.95. A breakdown below any of these levels will issue sell signals. DB Gold Double Long ETN has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 -3.16%. 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).
Support, Risk & Stop-loss for DB Gold Double Long ETN ETF
DB Gold Double Long ETN finds support from accumulated volume at $54.96 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 $0.465 (0.84%) between high and low. For the last week, the ETF has had daily average volatility of 1.34%.
Our recommended stop-loss: $52.95 (-4.11%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (DGP) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect DB Gold Double Long ETN to open at $55.38, and during the day (based on 14 day Average True Range), to move between $53.86 and $56.58, which gives a possible trading interval of +/-$1.36 (+/-2.47%) up or down from last closing price. If DB Gold Double Long ETN takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.31 (0.15%) than the support at $54.96 (0.48%), 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 DB Gold Double Long ETN ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for DB Gold Double Long ETN ETF to perform well in the short-term.
Current score: 2.840 Buy Candidate Unchanged
Predicted Opening Price for DB Gold Double Long ETN of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $55.38 ( 0.281%) | $55.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.84 | 1.12 % | |
| R2 | 55.66 | 0.80 % | ||
| R1 | 55.55 | 0.602 % | ||
| Current price: | 55.22 | |||
| Support | S1 | 55.20 | -0.0410 % | |
| S2 | 55.09 | -0.240 % | ||
| S3 | 54.91 | -0.561 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.02 | 3.26 % | |
| R2 | 56.73 | 2.73 % | ||
| R1 | 55.31 | 0.154 % | ||
| Current price | 55.22 | |||
| Support | S1 | 54.96 | -0.476% | |
| S2 | 47.90 | -13.25% | ||
| S3 | 45.43 | -17.73% |
FAQ
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