iShares Gold Trust ETF Forecast
Stronger technical forecast for iShares Gold Trust ETF price after Tuesday trading.
(Updated on Jun 25, 2024)
The iShares Gold Trust ETF price fell by -0.522% on the last day (Tuesday, 25th Jun 2024) from $44.08 to $43.85. During the last trading day the ETF fluctuated 0.538% from a day low at $43.76 to a day high of $44.00. The price has risen in 6 of the last 10 days and is up by 0.48% 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 -57 shares and in total, 3 million shares were bought and sold for approximately $129.12 million.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $43.39 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Gold Trust ETF with a 90% probability to be traded between $44.18 and $47.05 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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IAU Signals & Forecast
The iShares Gold Trust ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $44.05 and $44.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for iShares Gold Trust ETF
iShares Gold Trust finds support from accumulated volume at $43.22 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 $0.236 between high and low, or 0.538%. For the last week the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: $41.26 (-5.91%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (IAU) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect iShares Gold Trust to open at $43.87, and during the day (based on 14 day Average True Range), to move between $43.31 and $44.39, which gives a possible trading interval of +/-$0.538 (+/-1.23%) up or down from last closing price. If iShares Gold Trust takes out the full calculated possible swing range there will be an estimated 2.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.04 (0.43%) than the support at $43.22 (1.44%), 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 iShares Gold Trust ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.167 Buy Candidate Upgraded
Predicted Opening Price for iShares Gold Trust of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $43.87 ( 0.0423%) | $43.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IAU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.10 | 0.580% |
| R2 | 44.01 | 0.374% |
| R1 | 43.96 | 0.248% |
| Price | 43.85 | |
| S1 | 43.78 | -0.163% |
| S2 | 43.72 | -0.290% |
| S3 | 43.63 | -0.495% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.13 | 2.92% |
| R2 | 44.30 | 1.03% |
| R1 | 44.04 | 0.433% |
| Price | 43.85 | |
| S1 | 43.22 | -1.44% |
| S2 | 43.09 | -1.73% |
| S3 | 42.46 | -3.17% |
FAQ
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