Sprott Gold Miners ETF Forecast
Sprott Gold Miners ETF upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Sprott Gold Miners ETF price gained 3.16% on the last trading day (Thursday, 9th May 2024), rising from $26.88 to $27.73. During the last trading day the ETF fluctuated 2.56% from a day low at $27.11 to a day high of $27.81. The price has risen in 6 of the last 10 days and is up by 2.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $801.20 thousand.
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 29.31% during the next 3 months and, with a 90% probability hold a price between $33.92 and $38.09 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.
SGDM Signals & Forecast
The Sprott Gold Miners ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $26.78 and $26.15. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 7.65%. Further rise is indicated until a new top pivot has been found. Sprott Gold Miners 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Wednesday, February 28, 2024 with a target of $23.19. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Sprott Gold Miners ETF
Sprott Gold Miners finds support from accumulated volume at $27.05 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 $0.695 between high and low, or 2.56%. For the last week the ETF has had daily average volatility of 1.69%.
Our recommended stop-loss: $26.41 (-4.77%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SGDM) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Sprott Gold Miners ETF to open at $27.55, and during the day (based on 14 day Average True Range), to move between $27.06 and $28.40, which gives a possible trading interval of +/-$0.673 (+/-2.43%) up or down from last closing price. If Sprott Gold Miners ETF takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.05, some $0.680 (2.45%) from the current price of $27.73, our system finds the risk reward attractive.
Is Sprott Gold Miners ETF ETF A Buy?
Sprott Gold Miners holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.957 Strong Buy Candidate Upgraded
Predicted Opening Price for Sprott Gold Miners ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $27.55 ( 0.655%) | $27.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGDM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.24 | 1.85 % | |
| R2 | 27.98 | 0.89 % | ||
| R1 | 27.81 | 0.302 % | ||
| Current price: | 27.73 | |||
| Support | S1 | 27.28 | -1.61 % | |
| S2 | 27.12 | -2.20 % | ||
| S3 | 26.85 | -3.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 27.73 | |||
| Support | S1 | 27.05 | -2.45% | |
| S2 | 25.34 | -8.62% | ||
| S3 | 23.81 | -14.14% |
SGDM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0.348 | 1.38% |
| 2 | Dec 14, 2022 | Dec 15, 2022 | Dec 22, 2022 | $0.351 | 1.41% |
| 3 | Dec 14, 2021 | Dec 15, 2021 | Dec 22, 2021 | $0.363 | 1.37% |
| 4 | Dec 15, 2020 | Dec 16, 2020 | Dec 23, 2020 | $0.0930 | 0.305% |
| 5 | Dec 18, 2019 | Dec 19, 2019 | Dec 27, 2019 | $0.0630 | 0.256% |
FAQ
Click here for our free guide on how to buy Sprott Gold Miners ETF ETF.
