Global X Blockchain ETF Forecast
Global X Blockchain ETF upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Global X Blockchain ETF price gained 1.63% on the last trading day (Friday, 26th Apr 2024), rising from $44.77 to $45.50. During the last trading day the ETF fluctuated 3.17% from a day low at $44.21 to a day high of $45.61. The price has risen in 6 of the last 10 days and is up by 11.3% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 25 thousand shares were bought and sold for approximately $1.16 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 weak 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 6.61% during the next 3 months and, with a 90% probability hold a price between $37.33 and $59.80 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, 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 $43.69 and $44.95. 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 -15.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Global X Blockchain ETF
Global X Blockchain finds support from accumulated volume at $45.23 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 periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved $1.40 between high and low, or 3.17%. For the last week the ETF has had daily average volatility of 6.45%.
Our recommended stop-loss: $43.02 (-5.44%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (BKCH) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Global X Blockchain ETF to open at $45.11, and during the day (based on 14 day Average True Range), to move between $42.71 and $48.29, which gives a possible trading interval of +/-$2.79 (+/-6.12%) 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 12.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.23 (0.59%) than the resistance at $45.78 (0.62%), 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?
Global X Blockchain holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.720 Hold/Accumulate Upgraded
Predicted Opening Price for Global X Blockchain ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $45.11 ( 0.86%) | $45.50 |
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 | 46.51 | 2.21 % | |
| R2 | 45.97 | 1.04 % | ||
| R1 | 45.64 | 0.311 % | ||
| Current price: | 45.50 | |||
| Support | S1 | 44.57 | -2.04 % | |
| S2 | 44.24 | -2.77 % | ||
| S3 | 43.71 | -3.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.24 | 12.62 % | |
| R2 | 47.01 | 3.32 % | ||
| R1 | 45.78 | 0.615 % | ||
| Current price | 45.50 | |||
| Support | S1 | 45.23 | -0.593% | |
| S2 | 44.12 | -3.03% | ||
| S3 | 42.90 | -5.71% |
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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