3X Long Gold ETN Velocityshares Stock Analysis
Technical stock analysis for 22 January 2019
3X Long Gold ETN Velocityshares gained 0.91% in the last trading day, rising from $94.39 to $95.25 The price has been going up and down for this period, and there has been a -1.42% loss for the last 2 weeks. Volume fell in the last day by -616 shares, and in total, 89 249 shares bought and sold for approximately $8.50 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Tuesday, 22nd Jan 2019) of the UGLD stock was $95.25. This is 0.91% more than the trading day before Friday, 18th Jan 2019.
During day the stock fluctuated 1.48% from a day low at $94.00 to a day high of $95.39.
30 day high of the UGLD stock price was $98.21 and low was $91.69.
90 day high was $98.21 and low was $78.98.
52 week high for the 3X Long Gold ETN Velocityshares - $98.21 and low - $7.57.
3X Long Gold ETN Velocityshares 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 stock is expected to rise 18.09% during the next 3 months and, with 90% probability hold a price between $107.87 and $119.58 at the end of this period.
Only positive signals in the chart today. 3X Long Gold ETN Velocityshares holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $96.25. On a fall, the stock will find some support from the long-term average at approximately $91.86. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Friday January 18, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $87.04 and $86.61.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, 3X Long Gold ETN Velocityshares finds support just below today's level at $87.04. If this is broken, then the next support from accumulated volume will be at $86.61 and $85.96.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.39 (1.48%) between high and low. For the last week, the stock has had a daily average volatility of 1.28%.
Our recommended stoploss: $90.08 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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3X Long Gold ETN Velocityshares 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 recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.