Ishares Physical Gold Etc ETF Forecast
Ishares Physical Gold Etc ETF upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Ishares Physical Gold Etc ETF price gained 0.90% on the last trading day (Friday, 28th Jun 2024), rising from £41.90 to £42.27. During the last trading day the ETF fluctuated 0.711% from a day low at £42.19 to a day high of £42.49. The price has risen in 5 of the last 10 days and is up by 1.28% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 442 thousand more shares were traded than the day before. In total, 442 thousand shares were bought and sold for approximately £18.67 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ishares Physical Gold Etc ETF with a 90% probability to be traded between £41.08 and £43.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EGLN.L Signals & Forecast
The Ishares Physical Gold Etc 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 £42.20 and £42.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 1.67%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The ETF had a Golden Star Signal on Thursday, October 12, 2023 in the long-term chart.
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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, October 12, 2023 in the long-term chart.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.
A buy signal from a double bottom formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should go up by 6.34% to £44.95 within 20 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Ishares Physical Gold Etc ETF
Ishares Physical Gold Etc finds support from accumulated volume at £42.03 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 £0.300 between high and low, or 0.711%. For the last week the ETF has had daily average volatility of 0.90%.
Our recommended stop-loss: £40.15 (-5.00%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 51 days ago.)
Trading Expectations (EGLN.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Physical Gold Etc to open at £42.32, and during the day (based on 14 day Average True Range), to move between £41.77 and £42.77, which gives a possible trading interval of +/-£0.495 (+/-1.17%) up or down from last closing price. If Ishares Physical Gold Etc takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £42.03 (0.57%) than the resistance at £42.73 (1.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ishares Physical Gold Etc ETF A Buy?
Ishares Physical Gold Etc 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ishares Physical Gold Etc of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £42.32 ( 0.110%) | £42.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGLN.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.62 | 0.82% |
| R2 | 42.50 | 0.549% |
| R1 | 42.43 | 0.382% |
| Price | 42.27 | |
| S1 | 42.20 | -0.161% |
| S2 | 42.13 | -0.328% |
| S3 | 42.02 | -0.599% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 43.74 | 3.48% |
| R2 | 42.99 | 1.70% |
| R1 | 42.73 | 1.09% |
| Price | 42.27 | |
| S1 | 42.03 | -0.568% |
| S2 | 41.82 | -1.06% |
| S3 | 41.76 | -1.21% |
FAQ
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