Global X Blockchain & Bitcoin Strategy ETF Forecast
Red day on Wednesday for Global X Blockchain & Bitcoin Strategy ETF after losing 1.93%
(Updated on May 08, 2024)
The Global X Blockchain & Bitcoin Strategy ETF price fell by -1.93% on the last day (Wednesday, 8th May 2024) from $62.79 to $61.58. During the last trading day the ETF fluctuated 0.0487% from a day low at $61.58 to a day high of $61.61. The price has fallen in 7 of the last 10 days and is down by -5.86% 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 -1 thousand shares and in total, 2 thousand shares were bought and sold for approximately $107.89 thousand.
The ETF is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global X Blockchain & Bitcoin Strategy ETF with a 90% probability to be traded between $56.74 and $73.81 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BITS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 8.04%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global X Blockchain & Bitcoin Strategy 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 $65.40. On a fall, the ETF will find some support from the short-term average at $60.94. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Global X Blockchain & Bitcoin Strategy ETF
Global X Blockchain & Bitcoin Strategy finds support from accumulated volume at $59.46 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.0300 between high and low, or 0.0487%. For the last week the ETF has had daily average volatility of 1.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BITS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Global X Blockchain & Bitcoin Strategy Etf to open at $61.59, and during the day (based on 14 day Average True Range), to move between $58.94 and $64.22, which gives a possible trading interval of +/-$2.64 (+/-4.29%) up or down from last closing price. If Global X Blockchain & Bitcoin Strategy Etf takes out the full calculated possible swing range there will be an estimated 8.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.46 (3.44%) than the resistance at $64.72 (5.10%), 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 Blockchain & Bitcoin Strategy Etf ETF A Buy?
Global X Blockchain & Bitcoin Strategy 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.
Current score: -3.684 Sell Candidate Unchanged
Predicted Opening Price for Global X Blockchain & Bitcoin Strategy Etf of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $61.59 ( 0.0162%) | $61.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BITS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.62 | 0.0650 % | |
| R2 | 61.61 | 0.0463 % | ||
| R1 | 61.60 | 0.0348 % | ||
| Current price: | 61.58 | |||
| Support | S1 | 61.58 | -0.0024 % | |
| S2 | 61.57 | -0.0139 % | ||
| S3 | 61.56 | -0.0325 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 70.67 | 14.76 % | |
| R2 | 67.78 | 10.07 % | ||
| R1 | 64.72 | 5.10 % | ||
| Current price | 61.58 | |||
| Support | S1 | 59.46 | -3.44% | |
| S2 | 57.03 | -7.39% | ||
| S3 | 55.23 | -10.31% |
BITS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 28, 2023 | Jan 08, 2024 | $7.05 | 12.58% |
| 2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.223 | 0.503% |
| 3 | Dec 28, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.0760 | 0.358% |
| 4 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.0160 | 0.0550% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $1.49 | 2.09% |
FAQ
Click here for our free guide on how to buy Global X Blockchain & Bitcoin Strategy Etf ETF.
