iShares Gold Producers UCITS USD (Acc) ETF Forecast
Evaluation of iShares Gold Producers UCITS USD (Acc) ETF downgraded after the last trading session.
(Updated on May 10, 2024)
The iShares Gold Producers UCITS USD (Acc) ETF price gained 3.40% on the last trading day (Friday, 10th May 2024), rising from £1,213.00 to £1,254.25. During the last trading day the ETF fluctuated 1.94% from a day low at £1,250.50 to a day high of £1,274.78. The price has risen in 5 of the last 10 days and is up by 4.09% 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, 70 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately £87.69 million.
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 33.72% during the next 3 months and, with a 90% probability hold a price between £1,595.01 and £1,786.48 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.
SPGP.L Signals & Forecast
The iShares Gold Producers UCITS USD (Acc) 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 £1,205.18 and £1,171.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 7.02%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
Support, Risk & Stop-loss for iShares Gold Producers UCITS USD (Acc) ETF
iShares Gold Producers UCITS USD (Acc) finds support from accumulated volume at £1,205.00 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 £24.28 between high and low, or 1.94%. For the last week the ETF has had daily average volatility of 1.02%.
Our recommended stop-loss: £1,205.15 (-3.91%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SPGP.L) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect iShares Gold Producers UCITS ETF USD (Acc) to open at £1,259.84, and during the day (based on 14 day Average True Range), to move between £1,225.90 and £1,282.60, which gives a possible trading interval of +/-£28.35 (+/-2.26%) up or down from last closing price. If iShares Gold Producers UCITS ETF USD (Acc) takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £1,205.00, some £49.25 (3.93%) from the current price of £1,254.25, our system finds the risk reward attractive.
Is iShares Gold Producers UCITS ETF USD (Acc) ETF A Buy?
iShares Gold Producers UCITS USD (Acc) 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for iShares Gold Producers UCITS ETF USD (Acc) of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| £1,259.84 ( 0.446%) | £1,254.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPGP.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,284.12 | 2.38 % | |
| R2 | 1,274.85 | 1.64 % | ||
| R1 | 1,269.12 | 1.19 % | ||
| Current price: | 1,254.25 | |||
| Support | S1 | 1,250.57 | -0.294 % | |
| S2 | 1,244.84 | -0.750 % | ||
| S3 | 1,235.56 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,254.25 | |||
| Support | S1 | 1,205.00 | -3.93% | |
| S2 | 1,170.50 | -6.68% | ||
| S3 | 970.63 | -22.61% |
FAQ
Click here for our free guide on how to buy iShares Gold Producers UCITS ETF USD (Acc) ETF.
