Global X Blockchain ETF Forecast
On Tuesday, Global X Blockchain ETF price gained an impressive 5.20%
(Updated on Apr 23, 2024)
The Global X Blockchain ETF price gained 5.20% on the last trading day (Tuesday, 23rd Apr 2024), rising from $44.19 to $46.49. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 7.42% from a day low at $43.67 to a day high of $46.91. The price has risen in 6 of the last 10 days and is up by 8.57% over the past 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 50 thousand shares were bought and sold for approximately $2.34 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 12.47% during the next 3 months and, with a 90% probability hold a price between $42.06 and $64.96 at the end of this 3-month period.
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BKCH Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -13.47%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Global X Blockchain 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 $40.68 and $44.99. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Global X Blockchain ETF
Global X Blockchain finds support from accumulated volume at $45.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $3.24 between high and low, or 7.42%. For the last week, the ETF has had daily average volatility of 6.45%.
Our recommended stop-loss: $43.97 (-5.42%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (BKCH) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Global X Blockchain ETF to open at $45.69, and during the day (based on 14 day Average True Range), to move between $43.62 and $49.36, which gives a possible trading interval of +/-$2.87 (+/-6.18%) 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 12.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.01 (1.12%) than the support at $45.78 (1.53%), 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 of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.095 Buy Candidate Upgraded
Predicted Opening Price for Global X Blockchain ETF of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$45.69 ( 1.72%) | $46.49 |
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 | 48.93 | 5.25 % | |
R2 | 47.69 | 2.59 % | ||
R1 | 46.93 | 0.94 % | ||
Current price: | 46.49 | |||
Support | S1 | 44.45 | -4.38 % | |
S2 | 43.69 | -6.03 % | ||
S3 | 42.45 | -8.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 51.24 | 10.22 % | |
R2 | 47.60 | 2.39 % | ||
R1 | 47.01 | 1.12 % | ||
Current price | 46.49 | |||
Support | S1 | 45.78 | -1.53% | |
S2 | 44.12 | -5.10% | ||
S3 | 42.90 | -7.72% |
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
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