Sprott Physical Gold Trust Stock Forecast

Green day on Friday for Sprott Physical Gold Trust
(Updated on Apr 26, 2024)

PHYS Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -1.95%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Sprott Physical Gold Trust stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $18.18. On a fall, the stock will find some support from the long-term average at approximately $17.60. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Sprott Physical Gold Trust stock

Sprott Physical Gold Trust finds support from accumulated volume at $18.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.155 between high and low, or 0.86%. For the last week the stock has had daily average volatility of 0.96%.

Our recommended stop-loss: $17.40 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (PHYS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Sprott Physical Gold Trust to open at $18.13, and during the day (based on 14 day Average True Range), to move between $17.89 and $18.39, which gives a possible trading interval of +/-$0.251 (+/-1.38%) up or down from last closing price. If Sprott Physical Gold Trust takes out the full calculated possible swing range there will be an estimated 2.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $18.08 (0.33%) than the resistance at $18.40 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sprott Physical Gold Trust stock 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.

Current score: 3.192 Buy Candidate Unchanged

Predicted Opening Price for Sprott Physical Gold Trust of Monday, April 29, 2024

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