iShares S&P GSCI Commodity-Indexed Trust ETF Forecast
iShares S&P GSCI Commodity-Indexed Trust ETF price ended at $22.10 on Wednesday, after gaining 0.0453%.
(Updated on Jun 26, 2024)
The iShares S&P GSCI Commodity-Indexed Trust ETF price gained 0.0453% on the last trading day (Wednesday, 26th Jun 2024), rising from $22.09 to $22.10. During the last trading day the ETF fluctuated 0.91% from a day low at $22.06 to a day high of $22.26. The price has risen in 6 of the last 10 days and is up by 0.82% over the past 2 weeks. Volume fell on the last day by -62 thousand shares and in total, 276 thousand shares were bought and sold for approximately $6.11 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -2.70% during the next 3 months and, with a 90% probability hold a price between $20.61 and $21.86 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GSG Signals & Forecast
The iShares S&P GSCI Commodity-Indexed 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 $22.22. On a fall, the ETF will find some support from the long-term average at approximately $22.07. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Thursday, June 20, 2024, and so far it has fallen -1.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for iShares S&P GSCI Commodity-Indexed Trust ETF
iShares S&P GSCI Commodity-Indexed Trust finds support from accumulated volume at $22.00 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 $0.200 between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 0.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSG) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect iShares S&P GSCI Commodity-Indexed Trust to open at $22.14, and during the day (based on 14 day Average True Range), to move between $21.86 and $22.34, which gives a possible trading interval of +/-$0.243 (+/-1.10%) up or down from last closing price. If iShares S&P GSCI Commodity-Indexed Trust takes out the full calculated possible swing range there will be an estimated 2.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.00 (0.45%) than the resistance at $22.27 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares S&P GSCI Commodity-Indexed Trust ETF A Buy?
iShares S&P GSCI Commodity-Indexed Trust holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -3.393 Sell Candidate Unchanged
Predicted Opening Price for iShares S&P GSCI Commodity-Indexed Trust of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $22.14 ( 0.181%) | $22.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.34 | 1.09% |
| R2 | 22.26 | 0.740% |
| R1 | 22.22 | 0.527% |
| Price | 22.10 | |
| S1 | 22.06 | -0.165% |
| S2 | 22.02 | -0.378% |
| S3 | 21.94 | -0.724% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.67 | 2.58% |
| R2 | 22.63 | 2.40% |
| R1 | 22.27 | 0.769% |
| Price | 22.10 | |
| S1 | 22.00 | -0.452% |
| S2 | 21.83 | -1.22% |
| S3 | 21.55 | -2.49% |
FAQ
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