GLOBAL X MSCI ARGENTINA ETF Forecast
Weaker technical forecast for GLOBAL X MSCI ARGENTINA as ETF downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The GLOBAL X MSCI ARGENTINA ETF price fell by -1.23% on the last day (Friday, 28th Jun 2024) from $57.52 to $56.81. During the last trading day the ETF fluctuated 2.53% from a day low at $56.65 to a day high of $58.09. The price has fallen in 6 of the last 10 days and is down by -3.53% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -6 thousand shares and in total, 46 thousand shares were bought and sold for approximately $2.62 million.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $57.02. A reaction back to this level may hold a second chance to get out before further falls.
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ARGT Signals & Forecast
There are mixed signals in the ETF today. The GLOBAL X MSCI ARGENTINA ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $57.05 and $59.88. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.176%. 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).
Support, Risk & Stop-loss for GLOBAL X MSCI ARGENTINA ETF
GLOBAL X MSCI ARGENTINA finds support from accumulated volume at $56.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.44 between high and low, or 2.53%. For the last week, the ETF has had daily average volatility of 1.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARGT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect GLOBAL X MSCI ARGENTINA ETF to open at $57.18, and during the day (based on 14 day Average True Range), to move between $55.30 and $58.32, which gives a possible trading interval of +/-$1.51 (+/-2.66%) up or down from last closing price. If GLOBAL X MSCI ARGENTINA ETF takes out the full calculated possible swing range there will be an estimated 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $56.71 (0.18%) than the resistance at $58.89 (3.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GLOBAL X MSCI ARGENTINA ETF ETF A Buy?
GLOBAL X MSCI ARGENTINA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.407 Sell Candidate Downgraded
Predicted Opening Price for GLOBAL X MSCI ARGENTINA ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $57.18 ( 0.654%) | $56.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARGT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.62 | 3.18% |
| R2 | 58.07 | 2.22% |
| R1 | 57.73 | 1.62% |
| Price | 56.81 | |
| S1 | 56.63 | -0.311% |
| S2 | 56.29 | -0.91% |
| S3 | 55.75 | -1.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.76 | 12.23% |
| R2 | 60.94 | 7.27% |
| R1 | 58.89 | 3.66% |
| Price | 56.81 | |
| S1 | 56.71 | -0.176% |
| S2 | 53.10 | -6.53% |
| S3 | 52.90 | -6.88% |
ARGT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.526 | 1.02% |
| 2 | Jan 13, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.292 | 0.655% |
| 3 | Feb 01, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.446 | 1.23% |
| 4 | Feb 01, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.386 | 1.54% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.267 | 0.92% |
FAQ
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