iShares MSCI Global Gold Miners ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for iShares MSCI Global Gold Miners ETF after gaining 1.61%
(Updated on May 24, 2024)
The iShares MSCI Global Gold Miners ETF price gained 1.61% on the last trading day (Friday, 24th May 2024), rising from $27.88 to $28.33. During the last trading day the ETF fluctuated 0.82% from a day low at $28.21 to a day high of $28.44. The price has been going up and down for this period, and there has been a 0.14% gain for the last 2 weeks. Volume fell on the last day by -133 thousand shares and in total, 28 thousand shares were bought and sold for approximately $789.95 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a wide and strong 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 32.14% during the next 3 months and, with a 90% probability hold a price between $36.34 and $40.04 at the end of this 3-month period.
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RING Signals & Forecast
The iShares MSCI Global Gold Miners ETF 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 ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $28.90. On a fall, the ETF will find some support from the long-term average at approximately $27.57. 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. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -5.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for iShares MSCI Global Gold Miners ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $26.51 and $26.04. 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, iShares MSCI Global Gold Miners finds support just below today's level at $26.51. If this is broken, then the next support from accumulated volume will be at $26.04 and $24.22.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.230 between high and low, or 0.82%. For the last week the ETF has had daily average volatility of 2.00%.
Our recommended stop-loss: $27.33 (-3.54%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (RING) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect iShares MSCI Global Gold Miners ETF to open at $28.33, and during the day (based on 14 day Average True Range), to move between $27.64 and $29.02, which gives a possible trading interval of +/-$0.693 (+/-2.45%) up or down from last closing price. If iShares MSCI Global Gold Miners ETF takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.45 (0.41%) than the support at $26.51 (6.42%), 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 iShares MSCI Global Gold Miners ETF ETF A Buy?
iShares MSCI Global Gold Miners holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.634 Hold/Accumulate Unchanged
Predicted Opening Price for iShares MSCI Global Gold Miners ETF of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $28.33 ( 0.0118%) | $28.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RING
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.56 | 0.80 % | |
| R2 | 28.47 | 0.490 % | ||
| R1 | 28.41 | 0.298 % | ||
| Current price: | 28.33 | |||
| Support | S1 | 28.24 | -0.322 % | |
| S2 | 28.18 | -0.513 % | ||
| S3 | 28.10 | -0.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.83 | 5.29 % | |
| R2 | 28.73 | 1.41 % | ||
| R1 | 28.45 | 0.406 % | ||
| Current price | 28.33 | |||
| Support | S1 | 26.51 | -6.42% | |
| S2 | 26.04 | -8.08% | ||
| S3 | 24.22 | -14.53% |
RING Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.283 | 1.11% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.211 | 0.89% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.282 | 1.31% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.229 | 0.96% |
| 5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $0.331 | 1.28% |
FAQ
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