Global X MSCI China Consumer Disc ETF Forecast
Green day on Thursday for Global X MSCI China Consumer Disc ETF after gaining 1.46%
(Updated on Apr 18, 2024)
The Global X MSCI China Consumer Disc ETF price gained 1.46% on the last trading day (Thursday, 18th Apr 2024), rising from $16.82 to $17.06. During the last trading day the ETF fluctuated 1.00% from a day low at $16.95 to a day high of $17.12. The price has been going up and down for this period, and there has been a -1.16% loss for the last 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 57 thousand shares were bought and sold for approximately $970.37 thousand. 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 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 14.53% during the next 3 months and, with a 90% probability hold a price between $19.24 and $20.52 at the end of this 3-month period.
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CHIQ Signals & Forecast
There are few to no technical positive signals at the moment. The Global X MSCI China Consumer Disc ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $17.18 and $17.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.78%. 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 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 MSCI China Consumer Disc ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $15.91 and $15.75. 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 MSCI China Consumer Disc finds support just below today's level at $15.91. If this is broken, then the next support from accumulated volume will be at $15.75 and $15.12.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.170 between high and low, or 1.00%. For the last week the ETF has had daily average volatility of 1.45%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHIQ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Global X MSCI China Consumer Disc ETF to open at $17.04, and during the day (based on 14 day Average True Range), to move between $16.76 and $17.36, which gives a possible trading interval of +/-$0.305 (+/-1.79%) up or down from last closing price. If Global X MSCI China Consumer Disc ETF takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.34 (1.64%) than the support at $15.91 (6.74%), 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 MSCI China Consumer Disc ETF ETF A Buy?
The Global X MSCI China Consumer Disc ETF holds several negative signals and despite the positive trend, we believe Global X MSCI China Consumer Disc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.901 Sell Candidate Unchanged
Predicted Opening Price for Global X MSCI China Consumer Disc ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $17.04 ( 0.0977%) | $17.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHIQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.21 | 0.90 % | |
| R2 | 17.15 | 0.518 % | ||
| R1 | 17.11 | 0.283 % | ||
| Current price: | 17.06 | |||
| Support | S1 | 16.98 | -0.478 % | |
| S2 | 16.94 | -0.714 % | ||
| S3 | 16.87 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.62 | 3.28 % | |
| R2 | 17.59 | 3.11 % | ||
| R1 | 17.34 | 1.64 % | ||
| Current price | 17.06 | |||
| Support | S1 | 15.91 | -6.74% | |
| S2 | 15.75 | -7.68% | ||
| S3 | 15.12 | -11.37% |
CHIQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.367 | 2.10% |
| 2 | Jan 17, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.0310 | 0.167% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.0160 | 0.0777% |
| 4 | Feb 01, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.0610 | 0.259% |
| 5 | Jan 20, 2020 | Dec 30, 2020 | Jan 08, 2021 | $0.0220 | 0.0578% |
FAQ
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