Global X Disruptive Materials ETF Forecast
Global X Disruptive Materials ETF upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Global X Disruptive Materials ETF price gained 0.572% on the last trading day (Wednesday, 1st May 2024), rising from $16.05 to $16.14. During the last trading day the ETF fluctuated 0.260% from a day low at $16.10 to a day high of $16.14. The price has risen in 6 of the last 10 days and is up by 1.52% over the past 2 weeks. Volume fell on the last day by -451 shares and in total, 757 shares were bought and sold for approximately $12.22 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 27.41% during the next 3 months and, with a 90% probability hold a price between $19.99 and $21.40 at the end of this 3-month period.
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DMAT Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.23%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The Global X Disruptive Materials ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.91 and $15.56. A breakdown below any of these levels will issue sell signals. The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-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
The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-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 Disruptive Materials ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $13.80 and $13.52. 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 Disruptive Materials finds support just below today's level at $13.80. If this is broken, then the next support from accumulated volume will be at $13.52 and $13.43.
In general the ETF tends to have controlled movements and therefore the general risk is considered 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 $0.0418 between high and low, or 0.260%. For the last week the ETF has had daily average volatility of 0.532%.
Our recommended stop-loss: $15.38 (-4.70%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (DMAT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Global X Disruptive Materials ETF to open at $16.13, and during the day (based on 14 day Average True Range), to move between $15.82 and $16.46, which gives a possible trading interval of +/-$0.318 (+/-1.97%) up or down from last closing price. If Global X Disruptive Materials ETF takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.33 (1.17%) than the support at $13.80 (14.51%), 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 Disruptive Materials ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Global X Disruptive Materials ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.890 Buy Candidate Upgraded
Predicted Opening Price for Global X Disruptive Materials ETF of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$16.13 ( 0.0863%) | $16.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DMAT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.17 | 0.173 % | |
R2 | 16.15 | 0.0737 % | ||
R1 | 16.14 | 0.0126 % | ||
Current price: | 16.14 | |||
Support | S1 | 16.11 | -0.185 % | |
S2 | 16.10 | -0.246 % | ||
S3 | 16.09 | -0.345 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.68 | 3.33 % | |
R2 | 16.67 | 3.27 % | ||
R1 | 16.33 | 1.17 % | ||
Current price | 16.14 | |||
Support | S1 | 13.80 | -14.51% | |
S2 | 13.52 | -16.24% | ||
S3 | 13.43 | -16.80% |
DMAT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.125 | 0.84% |
2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.157 | 0.85% |
3 | Dec 28, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.147 | 0.690% |
4 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.250 | 1.25% |
FAQ
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