Aberdeen Standard Gold Trust ETF Forecast
Aberdeen Standard Gold Trust ETF price up 0.0449% on Friday
(Updated on May 24, 2024)
The Aberdeen Standard Gold Trust ETF price gained 0.0449% on the last trading day (Friday, 24th May 2024), rising from $22.29 to $22.30. During the last trading day the ETF fluctuated 0.673% from a day low at $22.28 to a day high of $22.43. The price has been going up and down for this period, and there has been a -1.28% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately $56.05 million. 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.
Given the current short-term trend, the ETF is expected to rise 15.13% during the next 3 months and, with a 90% probability hold a price between $25.67 and $26.92 at the end of this 3-month period.
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SGOL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aberdeen Standard Gold Trust ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $22.78 and $22.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -3.84%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Aberdeen Standard Gold Trust ETF
Aberdeen Standard Gold Trust finds support from accumulated volume at $22.29 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 $0.150 between high and low, or 0.673%. For the last week the ETF has had daily average volatility of 1.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SGOL) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Aberdeen Standard Gold ETF Trust to open at $22.34, and during the day (based on 14 day Average True Range), to move between $22.01 and $22.59, which gives a possible trading interval of +/-$0.288 (+/-1.29%) up or down from last closing price. If Aberdeen Standard Gold ETF Trust takes out the full calculated possible swing range there will be an estimated 2.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.29 (0.04%) than the resistance at $22.39 (0.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aberdeen Standard Gold ETF Trust ETF A Buy?
The Aberdeen Standard Gold Trust ETF holds several negative signals and despite the positive trend, we believe Aberdeen Standard Gold Trust will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -5.000 Strong Sell Candidate Unchanged
Predicted Opening Price for Aberdeen Standard Gold ETF Trust of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $22.34 ( 0.164%) | $22.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGOL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.49 | 0.84 % | |
| R2 | 22.43 | 0.580 % | ||
| R1 | 22.39 | 0.421 % | ||
| Current price: | 22.30 | |||
| Support | S1 | 22.28 | -0.0925 % | |
| S2 | 22.24 | -0.251 % | ||
| S3 | 22.19 | -0.508 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.85 | 2.47 % | |
| R2 | 22.81 | 2.29 % | ||
| R1 | 22.39 | 0.404 % | ||
| Current price | 22.30 | |||
| Support | S1 | 22.29 | -0.0448% | |
| S2 | 20.69 | -7.22% | ||
| S3 | 20.62 | -7.53% |
FAQ
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