U.S. Global GO GOLD and Precious Metal ETF Forecast

Stronger technical forecast for U.S. Global GO GOLD and Precious Metal ETF price after Wednesday trading.
(Updated on May 08, 2024)

GOAU Signals & Forecast

The U.S. Global GO GOLD and Precious Metal 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 $18.93 and $18.50. A breakdown below any of these levels will issue sell signals. U.S. Global GO GOLD and Precious Metal 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 Monday, April 29, 2024, and so far it has fallen -0.415%. 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 U.S. Global GO GOLD and Precious Metal ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $17.82 and $15.79. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, U.S. Global GO GOLD and Precious Metal finds support just below today's level at $17.82. If this is broken, then the next support from accumulated volume will be at $15.79 and $14.55.

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 $0.360 between high and low, or 1.89%. For the last week the ETF has had daily average volatility of 1.57%.

Our recommended stop-loss: $18.44 (-4.05%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (GOAU) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect U.S. Global GO GOLD and Precious Metal Miners ETF to open at $19.22, and during the day (based on 14 day Average True Range), to move between $18.77 and $19.67, which gives a possible trading interval of +/-$0.447 (+/-2.33%) up or down from last closing price. If U.S. Global GO GOLD and Precious Metal Miners ETF takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.23 (0.05%) than the support at $17.82 (7.28%), 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 U.S. Global GO GOLD and Precious Metal Miners 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 U.S. Global GO GOLD and Precious Metal ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.041 Buy Candidate Upgraded

Predicted Opening Price for U.S. Global GO GOLD and Precious Metal Miners ETF of Thursday, May 9, 2024

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