Global X Copper Miners ETF Forecast
Global X Copper Miners ETF price ended at $45.70 on Thursday, after gaining 0.285%.
(Updated on May 02, 2024)
The Global X Copper Miners ETF price gained 0.285% on the last trading day (Thursday, 2nd May 2024), rising from $45.57 to $45.70. During the last trading day the ETF fluctuated 2.38% from a day low at $45.03 to a day high of $46.10. The price has been going up and down for this period, and there has been a -1.09% loss for the last 2 weeks. Volume fell on the last day by -88 thousand shares and in total, 729 thousand shares were bought and sold for approximately $33.32 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 lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $45.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 41.41% during the next 3 months and, with a 90% probability hold a price between $64.44 and $68.90 at the end of this 3-month period.
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COPX Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.83%. 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 Copper Miners ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $46.17. On a fall, the ETF will find some support from the long-term average at approximately $44.15. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Global X Copper Miners ETF
Global X Copper Miners finds support from accumulated volume at $44.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $1.07 (2.38%) between high and low. For the last week, the ETF has had daily average volatility of 2.34%.
Our recommended stop-loss: $43.36 (-5.12%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (COPX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Global X Copper Miners ETF to open at $45.61, and during the day (based on 14 day Average True Range), to move between $44.50 and $46.90, which gives a possible trading interval of +/-$1.20 (+/-2.63%) up or down from last closing price. If Global X Copper Miners ETF takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.77 (0.15%) than the support at $44.57 (2.47%), 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 Copper Miners 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.
Current score: 1.011 Buy Candidate Unchanged
Predicted Opening Price for Global X Copper Miners ETF of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$45.61 ( 0.197%) | $45.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COPX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 46.68 | 2.14 % | |
R2 | 46.27 | 1.25 % | ||
R1 | 46.02 | 0.697 % | ||
Current price: | 45.70 | |||
Support | S1 | 45.20 | -1.09 % | |
S2 | 44.95 | -1.64 % | ||
S3 | 44.54 | -2.54 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.98 | 0.613 % | |
R2 | 45.81 | 0.241 % | ||
R1 | 45.77 | 0.153 % | ||
Current price | 45.70 | |||
Support | S1 | 44.57 | -2.47% | |
S2 | 41.59 | -8.99% | ||
S3 | 40.41 | -11.58% |
COPX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.391 | 1.03% |
2 | Jan 17, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.505 | 1.34% |
3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.395 | 1.10% |
4 | Feb 01, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.718 | 2.44% |
5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.385 | 1.03% |
FAQ
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