Global X Blockchain ETF Forecast
Global X Blockchain ETF downgraded to Buy Candidate
(Updated on Jul 02, 2024)
The Global X Blockchain ETF price fell by -0.473% on the last day (Tuesday, 2nd Jul 2024) from $55.01 to $54.75. During the last trading day the ETF fluctuated 2.69% from a day low at $54.00 to a day high of $55.45. The price has fallen in 6 of the last 10 days but is still up by 0.05% over the past 2 weeks. 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 -18 thousand shares and in total, 20 thousand shares were bought and sold for approximately $1.07 million.
The ETF lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $56.43 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 29.47% during the next 3 months and, with a 90% probability hold a price between $62.13 and $73.06 at the end of this 3-month period.
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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 $52.44 and $48.44. A breakdown below any of these levels will issue sell signals. 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 Monday, July 01, 2024, and so far it has fallen -0.473%. 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). 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 ETF
Global X Blockchain finds support from accumulated volume at $54.53 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 $1.45 between high and low, or 2.69%. For the last week the ETF has had daily average volatility of 4.29%.
Our recommended stop-loss: $52.58 (-3.97%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (BKCH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Global X Blockchain ETF to open at $54.73, and during the day (based on 14 day Average True Range), to move between $51.99 and $57.51, which gives a possible trading interval of +/-$2.76 (+/-5.04%) 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 10.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.53 (0.40%) than the resistance at $55.01 (0.47%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.931 Buy Candidate Downgraded
Predicted Opening Price for Global X Blockchain ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $54.73 ( 0.0304%) | $54.75 |
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 | |
|---|---|---|
| R3 | 56.18 | 2.62% |
| R2 | 55.63 | 1.61% |
| R1 | 55.29 | 0.98% |
| Price | 54.75 | |
| S1 | 54.18 | -1.04% |
| S2 | 53.84 | -1.67% |
| S3 | 53.28 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 55.01 | 0.475% |
| Price | 54.75 | |
| S1 | 54.53 | -0.402% |
| S2 | 46.69 | -14.72% |
| S3 | 42.75 | -21.92% |
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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