Global X Dow 30 Covered Call Etf ETF Forecast
Global X Dow 30 Covered Call Etf ETF price ended at $22.10 on Friday, after gaining 0.180%.
(Updated on Jun 28, 2024)
The Global X Dow 30 Covered Call Etf ETF price gained 0.180% on the last trading day (Friday, 28th Jun 2024), rising from $22.06 to $22.10. During the last trading day the ETF fluctuated 0.680% from a day low at $22.05 to a day high of $22.20. The price has been going up and down for this period, and there has been a 1.37% gain for the last 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 18 thousand shares were bought and sold for approximately $394.21 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 the upper part of a narrow and falling 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 $22.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -2.81% during the next 3 months and, with a 90% probability hold a price between $20.68 and $21.53 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.
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DJIA Signals & Forecast
The Global X Dow 30 Covered Call Etf 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 $22.11. On a fall, the ETF will find some support from the long-term average at approximately $22.08. 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. 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 Monday, June 24, 2024, and so far it has fallen -0.407%. 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 Dow 30 Covered Call Etf ETF
Global X Dow 30 Covered Call Etf finds support from accumulated volume at $21.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.150 between high and low, or 0.680%. For the last week the ETF has had daily average volatility of 0.584%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DJIA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Global X Dow 30 Covered Call Etf to open at $22.12, and during the day (based on 14 day Average True Range), to move between $21.91 and $22.29, which gives a possible trading interval of +/-$0.195 (+/-0.88%) up or down from last closing price. If Global X Dow 30 Covered Call Etf takes out the full calculated possible swing range there will be an estimated 1.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.20 (0.45%) than the support at $21.99 (0.50%), 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 Dow 30 Covered Call Etf ETF A Buy?
Global X Dow 30 Covered Call Etf 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: -1.028 Sell Candidate Unchanged
Predicted Opening Price for Global X Dow 30 Covered Call Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $22.12 ( 0.0763%) | $22.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DJIA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.27 | 0.755% |
| R2 | 22.21 | 0.496% |
| R1 | 22.17 | 0.336% |
| Price | 22.10 | |
| S1 | 22.06 | -0.183% |
| S2 | 22.02 | -0.343% |
| S3 | 21.97 | -0.602% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.70 | 2.72% |
| R2 | 22.28 | 0.82% |
| R1 | 22.20 | 0.454% |
| Price | 22.10 | |
| S1 | 21.99 | -0.496% |
| S2 | 21.93 | -0.768% |
| S3 | 21.75 | -1.58% |
FAQ
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