Score 8.2 (out of 10): SPDR GOLD SHARES indicates to return +2.1 rally in 2 weeks

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What’s Going On Here?

With next week US inflation print, Gold could benefit as the number comes in lower than expected.

Why Now?

SPDR GOLD SHARES appears to have reached a potential bottom. During similar occasions, SPDR GOLD SHARES shares had a median return of +2.1%, over the following 2 weeks – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for SPDR GOLD SHARES received a high score of 8.2 (out of 10). This insight was generated on 2022-July-8 with last price of 162.3.

What’s This Company About?

SPDR GOLD SHARES is in the Commodity business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: GLD US.

What’s My Risk / Reward and Time Horizon?

We found 2 weeks to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 165.65 (+2.1%) has been reached. Based on SPDR GOLD SHARES’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 159.4 (last price at 162.3), which is equivalent to a -1.8% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

0.3% (September-2021), 1.9% (June-2021), -0.2% (February-2021), 3.5% (September-2020), 3.1% (March-2020), 0.2% (November- 2019), 2.2% (September-2018), -1% (June-2018), 3.5% (December-2017), 3.6% (March-2017).

Historical Chart:

Summary:

NameSPDR GOLD SHARES
ViewUp
Star (1 to 10)8.2
Target2.1%
Time2 weeks
Hit Rate80%

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