Spdr Gold Minishares Trust ETF Forecast

Red day on Thursday for Spdr Gold Minishares Trust ETF after losing 0.284%
(Updated on May 02, 2024)

GLDM Signals & Forecast

The Spdr Gold Minishares Trust 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 $45.97. On a fall, the ETF will find some support from the long-term average at approximately $45.26. 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. 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 Tuesday, April 16, 2024, and so far it has fallen -3.61%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Spdr Gold Minishares Trust ETF

Spdr Gold Minishares Trust finds support from accumulated volume at $45.57 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 $0.465 between high and low, or 1.03%. For the last week the ETF has had daily average volatility of 1.01%.

Our recommended stop-loss: $43.51 (-4.74%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (GLDM) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Spdr Gold Minishares Trust to open at $45.58, and during the day (based on 14 day Average True Range), to move between $45.04 and $46.30, which gives a possible trading interval of +/-$0.630 (+/-1.38%) up or down from last closing price. If Spdr Gold Minishares Trust takes out the full calculated possible swing range there will be an estimated 2.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $45.57 (0.22%) than the resistance at $45.80 (0.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Spdr Gold Minishares Trust 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 Spdr Gold Minishares Trust ETF to perform well in the short-term.

Current score: 1.873 Buy Candidate Unchanged

Predicted Opening Price for Spdr Gold Minishares Trust of Friday, May 3, 2024

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