Purpose Gold Bullion Fund ETF Forecast

Purpose Gold Bullion Fund ETF price down 0.463% on Tuesday
(Updated on May 07, 2024)

KILO.TO Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -3.26%. 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). Purpose Gold Bullion Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The Purpose Gold Bullion Fund 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 $34.37 and $34.15. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Purpose Gold Bullion Fund ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $31.92 and $30.26. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Purpose Gold Bullion Fund finds support just below today's level at $31.92. If this is broken, then the next support from accumulated volume will be at $30.26 and $30.09.

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 $0.0900 between high and low, or 0.262%. For the last week the ETF has had daily average volatility of 0.468%.

Our recommended stop-loss: $33.17 (-3.61%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (KILO.TO) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Purpose Gold Bullion Fund to open at $34.41, and during the day (based on 14 day Average True Range), to move between $34.05 and $34.77, which gives a possible trading interval of +/-$0.360 (+/-1.04%) up or down from last closing price. If Purpose Gold Bullion Fund takes out the full calculated possible swing range there will be an estimated 2.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.77 (1.05%) than the support at $31.92 (7.24%), 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 Purpose Gold Bullion Fund ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Purpose Gold Bullion Fund ETF to perform well in the short-term.

Current score: 1.867 Buy Candidate Unchanged

Predicted Opening Price for Purpose Gold Bullion Fund of Wednesday, May 8, 2024

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