Goldman Sachs Equal Weight U.S. Large ETF Forecast
Goldman Sachs Equal Weight U.S. Large ETF downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)
The Goldman Sachs Equal Weight U.S. Large ETF price fell by -0.141% on the last day (Wednesday, 8th May 2024) from $70.96 to $70.86. During the last trading day the ETF fluctuated 0.396% from a day low at $70.64 to a day high of $70.92. The price has risen in 6 of the last 10 days and is up by 1.19% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -105 thousand shares and in total, 25 thousand shares were bought and sold for approximately $1.75 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Goldman Sachs Equal Weight U.S. Large ETF with a 90% probability to be traded between $69.79 and $74.19 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GSEW Signals & Forecast
The Goldman Sachs Equal Weight U.S. Large ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $70.16 and $70.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.17%. Further rise is indicated until a new top pivot has been found. 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. 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 Goldman Sachs Equal Weight U.S. Large ETF
Goldman Sachs Equal Weight U.S. Large finds support from accumulated volume at $70.22 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 $0.280 between high and low, or 0.396%. For the last week the ETF has had daily average volatility of 0.546%.
Our recommended stop-loss: $67.18 (-5.20%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (GSEW) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Goldman Sachs Equal Weight U.S. Large Cap Equity ETF to open at $70.81, and during the day (based on 14 day Average True Range), to move between $70.20 and $71.52, which gives a possible trading interval of +/-$0.655 (+/-0.92%) up or down from last closing price. If Goldman Sachs Equal Weight U.S. Large Cap Equity ETF takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $70.96 (0.14%) than the support at $70.22 (0.91%), 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 Goldman Sachs Equal Weight U.S. Large Cap Equity ETF ETF A Buy?
Goldman Sachs Equal Weight U.S. Large 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.224 Hold/Accumulate Downgraded
Predicted Opening Price for Goldman Sachs Equal Weight U.S. Large Cap Equity ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $70.81 ( 0.0753%) | $70.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSEW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.09 | 0.320 % | |
| R2 | 70.98 | 0.169 % | ||
| R1 | 70.91 | 0.0757 % | ||
| Current price: | 70.86 | |||
| Support | S1 | 70.70 | -0.226 % | |
| S2 | 70.63 | -0.319 % | ||
| S3 | 70.53 | -0.470 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.85 | 1.40 % | |
| R2 | 71.07 | 0.296 % | ||
| R1 | 70.96 | 0.141 % | ||
| Current price | 70.86 | |||
| Support | S1 | 70.22 | -0.91% | |
| S2 | 68.71 | -3.03% | ||
| S3 | 68.68 | -3.08% |
GSEW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 28, 2024 | $0.184 | 0.253% |
| 2 | Dec 22, 2023 | Dec 26, 2023 | Jan 02, 2024 | $0.438 | 0.656% |
| 3 | Sep 22, 2023 | Sep 25, 2023 | Sep 29, 2023 | $0.228 | 0.382% |
| 4 | Jun 23, 2023 | Jun 26, 2023 | Jun 30, 2023 | $0.281 | 0.449% |
| 5 | Mar 24, 2023 | Mar 27, 2023 | Mar 31, 2023 | $0.153 | 0.254% |
FAQ
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