iShares Gold Trust Micro ETF Forecast
iShares Gold Trust Micro ETF upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The iShares Gold Trust Micro ETF price gained 1.64% on the last trading day (Friday, 17th May 2024), rising from $23.74 to $24.13. During the last trading day the ETF fluctuated 0.97% from a day low at $23.91 to a day high of $24.14. The price has risen in 6 of the last 10 days and is up by 5.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 624 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $36.82 million.
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 16.70% during the next 3 months and, with a 90% probability hold a price between $27.55 and $29.39 at the end of this 3-month period.
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IAUM Signals & Forecast
Mostly positive signals in the chart today. The iShares Gold Trust Micro 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 $23.65 and $23.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 5.60%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for iShares Gold Trust Micro ETF
iShares Gold Trust Micro finds support from accumulated volume at $23.85 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 $0.231 between high and low, or 0.97%. For the last week the ETF has had daily average volatility of 0.87%.
Our recommended stop-loss: $22.94 (-4.94%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (IAUM) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect iShares Gold Trust Micro to open at $24.06, and during the day (based on 14 day Average True Range), to move between $23.84 and $24.42, which gives a possible trading interval of +/-$0.293 (+/-1.21%) up or down from last closing price. If iShares Gold Trust Micro 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.
With no resistance above and support from accumulated volume @ $23.85, some $0.280 (1.16%) from the current price of $24.13, our system finds the risk reward attractive.
Is iShares Gold Trust Micro ETF A Buy?
iShares Gold Trust Micro holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.834 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares Gold Trust Micro of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $24.06 ( 0.289%) | $24.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IAUM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.29 | 0.669 % | |
| R2 | 24.20 | 0.303 % | ||
| R1 | 24.15 | 0.0773 % | ||
| Current price: | 24.13 | |||
| Support | S1 | 23.97 | -0.654 % | |
| S2 | 23.92 | -0.88 % | ||
| S3 | 23.83 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 24.13 | |||
| Support | S1 | 23.85 | -1.16% | |
| S2 | 23.82 | -1.28% | ||
| S3 | 23.39 | -3.07% |
FAQ
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