Gold is likely to end the year at $1,400
It is expected that gold will end the year on a strong note owing to the Federal Reserve’s lower interest rates coupled with the advantage from global uncertainties like economy and geopolitical issues like trade war between U.S. and China. Often gold is considered to be safe heaven asset that is one of those assets that tend to retain its value during market turbulence.
On Tuesday, spot gold was trading at about $1,286.646 an ounce. Even though gold prices have long stuck in the $1,217 to $1,330 range, but analysts believe that these could reach $1,400 by the end of the year.
This positive outlook is mostly boosted by Federal Reserve’s decision not to hike interest rates this year. Further, more and more central banks in Poland, Hungary, the Philippines, and China are diversifying their reserve. Last year, central banks purchased a reported 650 metric tons of gold, an amount that accounted for 15% of the global market.
Aroon Indicator for UGL shows an upward move is likely
UGL's Aroon Indicator triggered a bullish signal on December 20, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 240 similar instances where the Aroon Indicator showed a similar pattern. In of the 240 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where UGL advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
UGL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 17, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on UGL as a result. In of 99 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for UGL turned negative on December 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
UGL moved below its 50-day moving average on December 12, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where UGL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Industry description
General Information
Category Trading