Vaneck Gold Miners Ucits Etf ETF Forecast
Red day on Wednesday for Vaneck Gold Miners Ucits Etf
(Updated on Jun 26, 2024)
The Vaneck Gold Miners Ucits Etf ETF price fell by -0.0504% on the last day (Wednesday, 26th Jun 2024) from £29.77 to £29.75. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.77% from a day low at £29.30 to a day high of £29.82. The price has risen in 5 of the last 10 days and is up by 1.29% over the past 2 weeks. Volume has increased on the last day by 62 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, 73 thousand shares were bought and sold for approximately £2.16 million.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £29.05 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 3.01% during the next 3 months and, with a 90% probability hold a price between £29.92 and £33.94 at the end of this 3-month period.
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GDGB.L Signals & Forecast
There are mixed signals in the ETF today. The Vaneck Gold Miners Ucits Etf ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £30.52. On a fall, the ETF will find some support from the short-term average at £29.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 2.89%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Vaneck Gold Miners Ucits Etf ETF
Vaneck Gold Miners Ucits Etf finds support from accumulated volume at £29.42 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 £0.520 between high and low, or 1.77%. For the last week, the ETF has had daily average volatility of 1.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GDGB.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Vaneck Gold Miners Ucits Etf to open at £29.62, and during the day (based on 14 day Average True Range), to move between £29.06 and £30.44, which gives a possible trading interval of +/-£0.693 (+/-2.33%) up or down from last closing price. If Vaneck Gold Miners Ucits Etf takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £29.42 (1.11%) than the resistance at £30.53 (2.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vaneck Gold Miners Ucits Etf ETF A Buy?
Vaneck Gold Miners Ucits Etf holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -2.058 Sell Candidate Unchanged
Predicted Opening Price for Vaneck Gold Miners Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| £29.62 ( 0.426%) | £29.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDGB.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.14 | 1.32% |
| R2 | 29.94 | 0.654% |
| R1 | 29.82 | 0.242% |
| Price | 29.75 | |
| S1 | 29.42 | -1.09% |
| S2 | 29.30 | -1.51% |
| S3 | 29.10 | -2.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.49 | 5.85% |
| R2 | 31.15 | 4.71% |
| R1 | 30.53 | 2.62% |
| Price | 29.75 | |
| S1 | 29.42 | -1.11% |
| S2 | 29.39 | -1.21% |
| S3 | 29.08 | -2.25% |
FAQ
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