iShares S&P/TSX Global Gold Index ETF Forecast
iShares S&P/TSX Global Gold Index ETF upgraded to Strong Buy Candidate.
(Updated on May 09, 2024)
The iShares S&P/TSX Global Gold Index ETF price gained 2.20% on the last trading day (Thursday, 9th May 2024), rising from $20.02 to $20.46. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.89% from a day low at $20.11 to a day high of $20.49. The price has risen in 7 of the last 10 days and is up by 2.2% 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, 184 thousand more shares were traded than the day before. In total, 449 thousand shares were bought and sold for approximately $9.18 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 34.04% during the next 3 months and, with a 90% probability hold a price between $26.17 and $29.06 at the end of this 3-month period.
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XGD.TO Signals & Forecast
The iShares S&P/TSX Global Gold Index 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 $19.86 and $19.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 36.31%. 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 S&P/TSX Global Gold Index ETF
iShares S&P/TSX Global Gold Index finds support from accumulated volume at $20.02 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 $0.380 between high and low, or 1.89%. For the last week the ETF has had daily average volatility of 1.35%.
Our recommended stop-loss: $19.68 (-3.82%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (XGD.TO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect iShares S&P/TSX Global Gold Index ETF to open at $20.35, and during the day (based on 14 day Average True Range), to move between $20.01 and $20.91, which gives a possible trading interval of +/-$0.445 (+/-2.18%) up or down from last closing price. If iShares S&P/TSX Global Gold Index ETF takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $20.02, some $0.440 (2.15%) from the current price of $20.46, our system finds the risk reward attractive.
Is iShares S&P/TSX Global Gold Index ETF ETF A Buy?
iShares S&P/TSX Global Gold Index 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: 8.251 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares S&P/TSX Global Gold Index ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $20.35 ( 0.521%) | $20.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XGD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.73 | 1.34 % | |
| R2 | 20.59 | 0.626 % | ||
| R1 | 20.50 | 0.188 % | ||
| Current price: | 20.46 | |||
| Support | S1 | 20.21 | -1.23 % | |
| S2 | 20.12 | -1.67 % | ||
| S3 | 19.97 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 20.46 | |||
| Support | S1 | 20.02 | -2.15% | |
| S2 | 19.65 | -3.96% | ||
| S3 | 19.51 | -4.64% |
XGD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.100 | 0.560% |
| 2 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | $0.165 | 0.96% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.171 | 0.98% |
| 4 | Jun 24, 2022 | Jun 24, 2022 | Jun 30, 2022 | $0.142 | 0.87% |
| 5 | Dec 30, 2021 | Dec 30, 2021 | Dec 30, 2021 | $0.0670 | 0.367% |
FAQ
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