Goldman Sachs S&P 500 Core Premium ETF Forecast

Red day on Tuesday for Goldman Sachs S&P 500 Core Premium
(Updated on Apr 30, 2024)

GPIX Signals & Forecast

The Goldman Sachs S&P 500 Core Premium 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 $45.22. On a fall, the ETF will find some support from the long-term average at approximately $44.55. 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 Monday, April 29, 2024, and so far it has fallen -1.53%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Goldman Sachs S&P 500 Core Premium ETF

Goldman Sachs S&P 500 Core Premium finds support from accumulated volume at $44.81 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.690 between high and low, or 1.53%. For the last week the ETF has had daily average volatility of 0.92%

Our recommended stop-loss: $42.81 (-4.80%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GPIX) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Goldman Sachs S&P 500 Core Premium Income ETF to open at $45.20, and during the day (based on 14 day Average True Range), to move between $44.42 and $45.52, which gives a possible trading interval of +/-$0.546 (+/-1.21%) up or down from last closing price. If Goldman Sachs S&P 500 Core Premium Income ETF takes out the full calculated possible swing range there will be an estimated 2.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $44.81 (0.36%) than the resistance at $45.29 (0.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Goldman Sachs S&P 500 Core Premium Income ETF ETF A Buy?

Goldman Sachs S&P 500 Core Premium holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Goldman Sachs S&P 500 Core Premium Income ETF of Wednesday, May 1, 2024

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