Royal Canadian Mint - Canadian Gold ETF Forecast
Royal Canadian Mint - Canadian Gold ETF price up 0.588% on Friday
(Updated on Jun 28, 2024)
The Royal Canadian Mint - Canadian Gold ETF price gained 0.588% on the last trading day (Friday, 28th Jun 2024), rising from $32.31 to $32.50. During the last trading day the ETF fluctuated 0.81% from a day low at $32.24 to a day high of $32.50. The price has been going up and down for this period, and there has been a -0.15% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $216.61 thousand.
The ETF lies in the middle of a weak 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 2.74% during the next 3 months and, with a 90% probability hold a price between $31.86 and $34.19 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MNT.TO Signals & Forecast
The Royal Canadian Mint - Canadian Gold ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.35 and $32.44. A breakdown below any of these levels will issue sell signals. Royal Canadian Mint - Canadian Gold has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 06, 2024, and so far it has fallen -1.66%. 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). The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Tuesday, June 04, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Royal Canadian Mint - Canadian Gold ETF
Royal Canadian Mint - Canadian Gold finds support from accumulated volume at $32.42 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 $0.260 between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 0.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MNT.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Royal Canadian Mint - Canadian Gold Reserves to open at $32.41, and during the day (based on 14 day Average True Range), to move between $32.07 and $32.93, which gives a possible trading interval of +/-$0.432 (+/-1.33%) up or down from last closing price. If Royal Canadian Mint - Canadian Gold Reserves takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $32.57 (0.22%) than the support at $32.42 (0.25%), 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 Royal Canadian Mint - Canadian Gold Reserves ETF A Buy?
Royal Canadian Mint - Canadian Gold 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: -1.957 Sell Candidate Unchanged
Predicted Opening Price for Royal Canadian Mint - Canadian Gold Reserves of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $32.41 ( 0.267%) | $32.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MNT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.67 | 0.533% |
| R2 | 32.57 | 0.228% |
| R1 | 32.51 | 0.0389% |
| Price | 32.50 | |
| S1 | 32.31 | -0.572% |
| S2 | 32.25 | -0.761% |
| S3 | 32.15 | -1.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.83 | 1.02% |
| R2 | 32.78 | 0.86% |
| R1 | 32.57 | 0.215% |
| Price | 32.50 | |
| S1 | 32.42 | -0.246% |
| S2 | 32.25 | -0.769% |
| S3 | 31.90 | -1.85% |
FAQ
Click here for our free guide on how to buy Royal Canadian Mint - Canadian Gold Reserves ETF.
