Sgi Enhanced Global Income Etf ETF Forecast

Sgi Enhanced Global Income Etf ETF upgraded to Buy Candidate.
(Updated on Jul 02, 2024)

GINX Signals & Forecast

The Sgi Enhanced Global Income Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $26.08. On a fall, the ETF will find some support from the long-term average at approximately $26.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -1.45%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Sgi Enhanced Global Income Etf ETF

Sgi Enhanced Global Income Etf finds support from accumulated volume at $25.61 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 $0.175 between high and low, or 0.674%. For the last week the ETF has had daily average volatility of 0.688%.

Our recommended stop-loss: $24.82 (-4.83%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 52 days ago.)

Trading Expectations (GINX) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Sgi Enhanced Global Income Etf to open at $26.05, and during the day (based on 14 day Average True Range), to move between $25.87 and $26.28, which gives a possible trading interval of +/-$0.206 (+/-0.79%) 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 1.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $26.11 (0.12%) than the support at $25.61 (1.79%), 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, 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 Sgi Enhanced Global Income Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 3.305 Buy Candidate Upgraded

Predicted Opening Price for Sgi Enhanced Global Income Etf of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.