Global X Social Media Index ETF Forecast
Global X Social Media Index ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Global X Social Media Index ETF price gained 2.72% on the last trading day (Tuesday, 23rd Apr 2024), rising from $38.90 to $39.96. During the last trading day the ETF fluctuated 1.29% from a day low at $39.49 to a day high of $40.00. The price has fallen in 6 of the last 10 days and is down by -1.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $603.32 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global X Social Media Index ETF with a 90% probability to be traded between $37.86 and $40.90 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SOCL Signals & Forecast
The Global X Social Media Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $38.73 and $39.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.72%. Further rise is indicated until a new top pivot has been found. Global X Social Media Index has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Global X Social Media Index ETF
Global X Social Media Index finds support from accumulated volume at $39.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.510 (1.29%) between high and low. For the last week, the ETF has had daily average volatility of 1.37%.
Our recommended stop-loss: $38.13 (-4.59%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (SOCL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Global X Social Media Index ETF to open at $39.82, and during the day (based on 14 day Average True Range), to move between $39.28 and $40.64, which gives a possible trading interval of +/-$0.683 (+/-1.71%) up or down from last closing price. If Global X Social Media Index ETF takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.19 (0.58%) than the support at $39.17 (1.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Global X Social Media Index ETF ETF A Buy?
Global X Social Media Index 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.045 Hold/Accumulate Upgraded
Predicted Opening Price for Global X Social Media Index ETF of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$39.82 ( 0.359%) | $39.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOCL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 40.33 | 0.92 % | |
R2 | 40.13 | 0.430 % | ||
R1 | 40.01 | 0.129 % | ||
Current price: | 39.96 | |||
Support | S1 | 39.62 | -0.85 % | |
S2 | 39.50 | -1.15 % | ||
S3 | 39.31 | -1.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 40.84 | 2.20 % | |
R2 | 40.64 | 1.70 % | ||
R1 | 40.19 | 0.576 % | ||
Current price | 39.96 | |||
Support | S1 | 39.17 | -1.98% | |
S2 | 38.95 | -2.53% | ||
S3 | 38.38 | -3.95% |
SOCL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.0549 | 0.136% |
2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.191 | 0.513% |
3 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.122 | 0.354% |
4 | Dec 28, 2017 | Dec 28, 2017 | Jan 09, 2018 | $0.490 | 1.41% |
5 | Dec 28, 2016 | Dec 28, 2016 | Jan 06, 2017 | $0.0390 | 0.171% |
FAQ
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