Global X Artificial Intelligence & ETF Forecast

Stronger technical forecast for Global X Artificial Intelligence & ETF price after Friday trading.
(Updated on May 03, 2024)

AIQ Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.34%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The Global X Artificial Intelligence & ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $33.22. On a fall, the ETF will find some support from the short-term average at $32.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Global X Artificial Intelligence & ETF

Global X Artificial Intelligence & finds support from accumulated volume at $33.07 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 $0.310 (0.94%) between high and low. For the last week, the ETF has had daily average volatility of 1.55%.

Our recommended stop-loss: $31.53 (-4.87%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (AIQ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Global X Artificial Intelligence & Technology ETF to open at $33.10, and during the day (based on 14 day Average True Range), to move between $32.55 and $33.73, which gives a possible trading interval of +/-$0.586 (+/-1.77%) up or down from last closing price. If Global X Artificial Intelligence & Technology ETF takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.18 (0.12%) than the support at $33.07 (0.21%), 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 Artificial Intelligence & Technology ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Global X Artificial Intelligence & ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.059 Buy Candidate Upgraded

Predicted Opening Price for Global X Artificial Intelligence & Technology ETF of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.