Global X CleanTech ETF Forecast
Green day on Thursday for Global X CleanTech ETF after gaining 3.59%
(Updated on May 02, 2024)
The Global X CleanTech ETF price gained 3.59% on the last trading day (Thursday, 2nd May 2024), rising from $8.64 to $8.95. During the last trading day the ETF fluctuated 2.76% from a day low at $8.71 to a day high of $8.95. The price has been going up and down for this period, and there has been a 6.29% gain for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately $33.10 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 wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -6.29% during the next 3 months and, with a 90% probability hold a price between $7.71 and $8.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTEC Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.31%. Further rise is indicated until a new top pivot has been found. 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. The Global X CleanTech ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $9.03. On a fall, the ETF will find some support from the short-term average at $8.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, March 11, 2024 and based on theory for this formation the price should fall by -10.30% to $8.03 within 19 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Global X CleanTech ETF
Global X CleanTech finds support from accumulated volume at $8.80 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 $0.240 between high and low, or 2.76%. For the last week the ETF has had daily average volatility of 2.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CTEC) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Global X CleanTech ETF to open at $8.87, and during the day (based on 14 day Average True Range), to move between $8.72 and $9.18, which gives a possible trading interval of +/-$0.228 (+/-2.54%) up or down from last closing price. If Global X CleanTech ETF takes out the full calculated possible swing range there will be an estimated 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.80 (1.68%) than the resistance at $9.24 (3.24%), 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 CleanTech ETF ETF A Buy?
Global X CleanTech holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -2.400 Sell Candidate Unchanged
Predicted Opening Price for Global X CleanTech ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $8.87 ( 0.89%) | $8.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.11 | 1.79 % | |
| R2 | 9.02 | 0.763 % | ||
| R1 | 8.96 | 0.131 % | ||
| Current price: | 8.95 | |||
| Support | S1 | 8.78 | -1.92 % | |
| S2 | 8.72 | -2.55 % | ||
| S3 | 8.63 | -3.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.49 | 6.03 % | |
| R2 | 9.37 | 4.69 % | ||
| R1 | 9.24 | 3.24 % | ||
| Current price | 8.95 | |||
| Support | S1 | 8.80 | -1.68% | |
| S2 | 8.72 | -2.57% | ||
| S3 | 8.64 | -3.46% |
CTEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.0551 | 0.545% |
| 2 | Dec 28, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.0260 | 0.170% |
| 3 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.0110 | 0.0766% |
| 4 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.0590 | 0.362% |
| 5 | Jun 28, 2021 | Jun 29, 2021 | Jul 08, 2021 | $0.0110 | 0.0549% |
FAQ
Click here for our free guide on how to buy Global X CleanTech ETF ETF.
