Wisdomtree Physical Gold - Gbp Daily ETF Forecast
Green day on Wednesday for Wisdomtree Physical Gold - Gbp Daily
(Updated on Jul 03, 2024)
The Wisdomtree Physical Gold - Gbp Daily ETF price gained 1.50% on the last trading day (Wednesday, 3rd Jul 2024), rising from £1,212.63 to £1,230.88. During the last trading day the ETF fluctuated 0.90% from a day low at £1,220.00 to a day high of £1,231.00. The price has risen in 5 of the last 10 days and is up by 1.6% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 9 thousand shares were bought and sold for approximately £10.79 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Wisdomtree Physical Gold - Gbp Daily ETF with a 90% probability to be traded between £1,179.22 and £1,250.27 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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GBSP.L Signals & Forecast
The Wisdomtree Physical Gold - Gbp Daily 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 £1,210.84 and £1,222.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 2.65%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-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
The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-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 Wednesday, June 26, 2024 and based on theory for this formation the price should go up by 4.35% to £1,284.36 within 34 trading days (Tuesday, August 13, 2024) since signal was issued.
Support, Risk & Stop-loss for Wisdomtree Physical Gold - Gbp Daily ETF
Wisdomtree Physical Gold - Gbp Daily finds support from accumulated volume at £1,221.00 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 £11.00 between high and low, or 0.90%. For the last week the ETF has had daily average volatility of 0.528%.
Our recommended stop-loss: £1,170.36 (-4.92%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (GBSP.L) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Wisdomtree Physical Gold - Gbp Daily Hedged to open at £1,227.29, and during the day (based on 14 day Average True Range), to move between £1,218.50 and £1,243.25, which gives a possible trading interval of +/-£12.37 (+/-1.01%) up or down from last closing price. If Wisdomtree Physical Gold - Gbp Daily Hedged takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £1,233.13 (0.18%) than the support at £1,221.00 (0.80%), 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 Wisdomtree Physical Gold - Gbp Daily Hedged ETF A Buy?
Wisdomtree Physical Gold - Gbp Daily 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.
Current score: 0.045 Hold/Accumulate Unchanged
Predicted Opening Price for Wisdomtree Physical Gold - Gbp Daily Hedged of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| £1,227.29 ( 0.291%) | £1,230.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBSP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,238.29 | 0.603% |
| R2 | 1,234.09 | 0.261% |
| R1 | 1,231.49 | 0.0503% |
| Price | 1,230.88 | |
| S1 | 1,223.09 | -0.633% |
| S2 | 1,220.49 | -0.84% |
| S3 | 1,216.29 | -1.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,255.13 | 1.97% |
| R2 | 1,250.13 | 1.56% |
| R1 | 1,233.13 | 0.183% |
| Price | 1,230.88 | |
| S1 | 1,221.00 | -0.80% |
| S2 | 1,201.38 | -2.40% |
| S3 | 1,199.13 | -2.58% |
FAQ
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