Invesco Physical Gold Etc ETF Forecast
Invesco Physical Gold Etc ETF price down 0.0980% on Tuesday
(Updated on Jul 02, 2024)
The Invesco Physical Gold Etc ETF price fell by -0.0980% on the last day (Tuesday, 2nd Jul 2024) from £224.53 to £224.31. During the last trading day the ETF fluctuated 0.603% from a day low at £223.87 to a day high of £225.22. The price has fallen in 5 of the last 10 days but is still up by 0.61% over the past 2 weeks. 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 -54 thousand shares and in total, 7 thousand shares were bought and sold for approximately £1.58 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco Physical Gold Etc ETF with a 90% probability to be traded between £206.51 and £232.90 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SGLD.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 1.15%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco Physical Gold Etc ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at £226.06. On a fall, the ETF will find some support from the short-term average at £223.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Invesco Physical Gold Etc ETF
Invesco Physical Gold Etc finds support from accumulated volume at £223.59 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 £1.35 between high and low, or 0.603%. For the last week the ETF has had daily average volatility of 0.596%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SGLD.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Invesco Physical Gold Etc to open at £224.47, and during the day (based on 14 day Average True Range), to move between £221.68 and £226.94, which gives a possible trading interval of +/-£2.63 (+/-1.17%) up or down from last closing price. If Invesco Physical Gold Etc takes out the full calculated possible swing range there will be an estimated 2.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £224.53 (0.10%) than the support at £223.59 (0.32%), 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 Invesco Physical Gold Etc ETF A Buy?
Invesco Physical Gold Etc 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: -2.934 Sell Candidate Unchanged
Predicted Opening Price for Invesco Physical Gold Etc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £224.47 ( 0.0698%) | £224.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGLD.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 225.82 | 0.672% |
| R2 | 225.30 | 0.442% |
| R1 | 224.98 | 0.300% |
| Price | 224.31 | |
| S1 | 223.95 | -0.160% |
| S2 | 223.63 | -0.302% |
| S3 | 223.12 | -0.532% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 230.95 | 2.96% |
| R2 | 224.55 | 0.107% |
| R1 | 224.53 | 0.0981% |
| Price | 224.31 | |
| S1 | 223.59 | -0.321% |
| S2 | 221.55 | -1.23% |
| S3 | 208.00 | -7.27% |
FAQ
Click here for our free guide on how to buy Invesco Physical Gold Etc ETF.
