Sgi Enhanced Global Income Etf ETF Forecast
Sgi Enhanced Global Income Etf ETF upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Sgi Enhanced Global Income Etf ETF price gained 0.81% on the last trading day (Monday, 17th Jun 2024), rising from $25.77 to $25.98. During the last trading day the ETF fluctuated 0.89% from a day low at $25.76 to a day high of $25.99. The price has been going up and down for this period, and there has been a 0.86% 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, 9 thousand more shares were traded than the day before. In total, 16 thousand shares were bought and sold for approximately $419.01 thousand.
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 Sgi Enhanced Global Income Etf ETF with a 90% probability to be traded between $25.58 and $27.12 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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GINX Signals & Forecast
The Sgi Enhanced Global Income Etf 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 $25.92 and $25.89. A breakdown below any of these levels will issue sell signals. Sgi Enhanced Global Income Etf 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, May 17, 2024, and so far it has fallen -1.81%. 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 Sgi Enhanced Global Income Etf ETF
Sgi Enhanced Global Income Etf finds support from accumulated volume at $25.78 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 $0.230 between high and low, or 0.89%. For the last week the ETF has had daily average volatility of 0.580%.
Our recommended stop-loss: $24.73 (-4.80%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (GINX) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Sgi Enhanced Global Income Etf to open at $25.91, and during the day (based on 14 day Average True Range), to move between $25.78 and $26.18, which gives a possible trading interval of +/-$0.195 (+/-0.75%) up or down from last closing price. If Sgi Enhanced Global Income Etf takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.02 (0.17%) than the support at $25.78 (0.77%), 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 Sgi Enhanced Global Income Etf ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sgi Enhanced Global Income Etf ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.540 Buy Candidate Upgraded
Predicted Opening Price for Sgi Enhanced Global Income Etf of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $25.91 ( 0.269%) | $25.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GINX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.14 | 0.616% |
| R2 | 26.05 | 0.278% |
| R1 | 26.00 | 0.0687% |
| Price | 25.98 | |
| S1 | 25.82 | -0.608% |
| S2 | 25.77 | -0.82% |
| S3 | 25.68 | -1.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.46 | 1.85% |
| R2 | 26.40 | 1.62% |
| R1 | 26.02 | 0.172% |
| Price | 25.98 | |
| S1 | 25.78 | -0.770% |
| S2 | 25.66 | -1.23% |
| S3 | 24.80 | -4.54% |
FAQ
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