Purpose Gold Bullion Fund ETF Forecast

Purpose Gold Bullion Fund ETF price down 0.80% on Friday
(Updated on May 31, 2024)

KILO.TO Signals & Forecast

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. The Purpose Gold Bullion Fund 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 $34.79 and $34.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -4.16%. Further fall is indicated until a new bottom pivot has been found. 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".

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 $32.49 and $32.08. 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 $32.49. If this is broken, then the next support from accumulated volume will be at $32.08 and $31.92.

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 $0.510 between high and low, or 1.48%. For the last week the ETF has had daily average volatility of 0.762%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (KILO.TO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Purpose Gold Bullion Fund to open at $34.69, and during the day (based on 14 day Average True Range), to move between $34.18 and $34.92, which gives a possible trading interval of +/-$0.368 (+/-1.06%) 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 2.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.76 (0.61%) than the support at $32.49 (5.96%), 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?

The Purpose Gold Bullion Fund ETF holds several negative signals and despite the positive trend, we believe Purpose Gold Bullion Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.002 Sell Candidate Unchanged

Predicted Opening Price for Purpose Gold Bullion Fund of Monday, June 3, 2024

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