BetaShares Gold Bullion - Currency ETF Forecast
BetaShares Gold Bullion - Currency ETF upgraded to Buy Candidate.
(Updated on Jun 26, 2024)
The BetaShares Gold Bullion - Currency ETF price fell by -0.619% on the last day (Wednesday, 26th Jun 2024) from A$19.38 to A$19.26. During the last trading day the ETF fluctuated 0.467% from a day low at A$19.26 to a day high of A$19.35. The price has risen in 6 of the last 10 days but is still down by -0.1% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -24 thousand shares and in total, 19 thousand shares were bought and sold for approximately A$358.49 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at A$19.21 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BetaShares Gold Bullion - Currency ETF with a 90% probability to be traded between A$19.41 and A$20.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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QAU.AX Signals & Forecast
There are mixed signals in the ETF today. The BetaShares Gold Bullion - Currency 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 A$19.42 and A$19.57. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.469%. 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).
Support, Risk & Stop-loss for BetaShares Gold Bullion - Currency ETF
BetaShares Gold Bullion - Currency finds support from accumulated volume at A$19.23 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0.0900 between high and low, or 0.467%. For the last week the ETF has had daily average volatility of 0.702%
Our recommended stop-loss: A$18.09 (-6.06%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (QAU.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect BetaShares Gold Bullion ETF - Currency Hedged to open at A$19.29, and during the day (based on 14 day Average True Range), to move between A$19.05 and A$19.47, which gives a possible trading interval of +/-A$0.210 (+/-1.09%) up or down from last closing price. If BetaShares Gold Bullion ETF - Currency Hedged takes out the full calculated possible swing range there will be an estimated 2.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$19.28 (0.10%) than the support at A$19.23 (0.16%), 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 BetaShares Gold Bullion ETF - Currency Hedged ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for BetaShares Gold Bullion - Currency ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.478 Buy Candidate Upgraded
Predicted Opening Price for BetaShares Gold Bullion ETF - Currency Hedged of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| A$19.29 ( 0.156%) | A$19.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QAU.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.38 | 0.623% |
| R2 | 19.35 | 0.445% |
| R1 | 19.32 | 0.334% |
| Price | 19.26 | |
| S1 | 19.26 | -0.0227% |
| S2 | 19.23 | -0.133% |
| S3 | 19.20 | -0.312% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.87 | 3.17% |
| R2 | 19.33 | 0.363% |
| R1 | 19.28 | 0.104% |
| Price | 19.26 | |
| S1 | 19.23 | -0.156% |
| S2 | 19.09 | -0.88% |
| S3 | 19.08 | -0.93% |
QAU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | A$0.87 | 5.45% |
| 2 | Jul 01, 2020 | Jul 01, 2020 | Jul 01, 2020 | A$0.411 | 2.39% |
FAQ
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