Global X Blockchain ETF Forecast
Red day on Wednesday for Global X Blockchain
(Updated on Mar 27, 2024)
The Global X Blockchain ETF price fell by -0.0987% on the last day (Wednesday, 27th Mar 2024) from $50.68 to $50.63. During the last trading day the ETF fluctuated 5.87% from a day low at $49.40 to a day high of $52.30. The price has fallen in 6 of the last 10 days but is still up by 11.72% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 90 thousand shares were bought and sold for approximately $4.57 million.
The ETF lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 23.95% during the next 3 months and, with a 90% probability hold a price between $48.67 and $71.35 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BKCH Signals & Forecast
The Global X Blockchain ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $49.12 and $46.95. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -5.77%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Global X Blockchain ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $46.24 and $45.78. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Global X Blockchain finds support just below today's level at $46.24. If this is broken, then the next support from accumulated volume will be at $45.78 and $40.68.
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 $2.90 between high and low, or 5.87%. For the last week, the ETF has had daily average volatility of 5.24%.
Our recommended stop-loss: $49.12 (-2.98%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (BKCH) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Global X Blockchain ETF to open at $50.78, and during the day (based on 14 day Average True Range), to move between $46.80 and $54.46, which gives a possible trading interval of +/-$3.83 (+/-7.56%) up or down from last closing price. If Global X Blockchain ETF takes out the full calculated possible swing range there will be an estimated 15.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $51.24 (1.20%) than the support at $46.24 (8.67%), 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 Blockchain ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Global X Blockchain ETF to perform well in the short-term.
Current score: 1.317 Buy Candidate Unchanged
Predicted Opening Price for Global X Blockchain ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$50.78 ( 0.290%) | $50.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKCH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 53.68 | 6.02 % | |
R2 | 52.57 | 3.83 % | ||
R1 | 51.88 | 2.48 % | ||
Current price: | 50.63 | |||
Support | S1 | 49.67 | -1.90 % | |
S2 | 48.98 | -3.25 % | ||
S3 | 47.88 | -5.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 52.98 | 4.64 % | |
R2 | 52.61 | 3.91 % | ||
R1 | 51.24 | 1.20 % | ||
Current price | 50.63 | |||
Support | S1 | 46.24 | -8.67% | |
S2 | 45.78 | -9.58% | ||
S3 | 40.68 | -19.65% |
BKCH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.383 | 0.84% |
2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.192 | 0.519% |
3 | Dec 28, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.0280 | 0.181% |
4 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.140 | 0.577% |
5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $3.74 | 4.74% |
FAQ
Click here for our free guide on how to buy Global X Blockchain ETF ETF.