U.S. Global GO GOLD and Precious Metal ETF Forecast
Red day on Friday for U.S. Global GO GOLD and Precious Metal
(Updated on May 31, 2024)
The U.S. Global GO GOLD and Precious Metal ETF price fell by -0.0490% on the last day (Friday, 31st May 2024) from $20.41 to $20.40. During the last trading day the ETF fluctuated 2.78% from a day low at $20.17 to a day high of $20.73. The price has been going up and down for this period, and there has been a 0.94% gain for the last 2 weeks. Volume has increased on the last day by 15 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, 43 thousand shares were bought and sold for approximately $867.39 thousand.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 26.68% during the next 3 months and, with a 90% probability hold a price between $25.38 and $27.58 at the end of this 3-month period.
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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 $20.32 and $19.55. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, May 20, 2024, and so far it has fallen -3.68%. Further fall is indicated until a new bottom pivot has been found. U.S. Global GO GOLD and Precious Metal gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for U.S. Global GO GOLD and Precious Metal ETF
U.S. Global GO GOLD and Precious Metal finds support from accumulated volume at $19.89 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 $0.561 between high and low, or 2.78%. For the last week, the ETF has had daily average volatility of 1.63%.
Our recommended stop-loss: $19.78 (-3.03%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (GOAU) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect U.S. Global GO GOLD and Precious Metal Miners ETF to open at $20.43, and during the day (based on 14 day Average True Range), to move between $19.93 and $20.87, which gives a possible trading interval of +/-$0.474 (+/-2.32%) 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 $20.69 (1.40%) than the support at $19.89 (2.50%), 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.
Current score: 1.425 Buy Candidate Unchanged
Predicted Opening Price for U.S. Global GO GOLD and Precious Metal Miners ETF of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $20.43 ( 0.165%) | $20.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOAU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.99 | 2.91 % | |
| R2 | 20.78 | 1.86 % | ||
| R1 | 20.65 | 1.21 % | ||
| Current price: | 20.40 | |||
| Support | S1 | 20.22 | -0.89 % | |
| S2 | 20.09 | -1.53 % | ||
| S3 | 19.87 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.07 | 3.28 % | |
| R2 | 20.97 | 2.79 % | ||
| R1 | 20.69 | 1.40 % | ||
| Current price | 20.40 | |||
| Support | S1 | 19.89 | -2.50% | |
| S2 | 19.23 | -5.74% | ||
| S3 | 15.79 | -22.60% |
GOAU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 27, 2023 | $0.168 | 0.96% |
| 2 | Dec 22, 2022 | Dec 23, 2022 | Dec 28, 2022 | $0.240 | 1.55% |
| 3 | Dec 22, 2021 | Dec 23, 2021 | Dec 28, 2021 | $0.228 | 1.30% |
| 4 | Dec 28, 2020 | Dec 29, 2020 | Dec 31, 2020 | $0.147 | 0.739% |
| 5 | Dec 20, 2019 | Dec 23, 2019 | Dec 26, 2019 | $0.0280 | 0.161% |
FAQ
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