GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES as ETF downgraded to Sell Candidate.
(Updated on Apr 30, 2024)
The GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF price fell by -1.82% on the last day (Tuesday, 30th Apr 2024) from $23.68 to $23.25. During the last trading day the ETF fluctuated 1.56% from a day low at $23.25 to a day high of $23.61. The price has been going up and down for this period, and there has been a 0.74% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 thousand shares and in total, 96 thousand shares were bought and sold for approximately $2.24 million.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF with a 90% probability to be traded between $22.28 and $24.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DRIV Signals & Forecast
There are mixed signals in the ETF today. The GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES 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 $23.85. On a fall, the ETF will find some support from the short-term average at $23.03. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.82%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF
GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES finds support from accumulated volume at $22.91 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.363 between high and low, or 1.56%. For the last week, the ETF has had daily average volatility of 1.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DRIV) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF to open at $23.37, and during the day (based on 14 day Average True Range), to move between $22.82 and $23.68, which gives a possible trading interval of +/-$0.432 (+/-1.86%) up or down from last closing price. If GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF takes out the full calculated possible swing range there will be an estimated 3.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.39 (0.60%) than the support at $22.91 (1.46%), 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 AUTONOMOUS & ELECTRIC VEHICLES ETF ETF A Buy?
GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -3.348 Sell Candidate Downgraded
Predicted Opening Price for GLOBAL X AUTONOMOUS & ELECTRIC VEHICLES ETF of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $23.37 ( 0.521%) | $23.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DRIV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.73 | 2.08 % | |
| R2 | 23.60 | 1.49 % | ||
| R1 | 23.51 | 1.12 % | ||
| Current price: | 23.25 | |||
| Support | S1 | 23.23 | -0.0761 % | |
| S2 | 23.15 | -0.445 % | ||
| S3 | 23.01 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.26 | 4.34 % | |
| R2 | 23.85 | 2.58 % | ||
| R1 | 23.39 | 0.602 % | ||
| Current price | 23.25 | |||
| Support | S1 | 22.91 | -1.46% | |
| S2 | 22.75 | -2.15% | ||
| S3 | 22.74 | -2.19% |
DRIV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.224 | 0.94% |
| 2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.175 | 0.666% |
| 3 | Dec 28, 2022 | Dec 29, 2022 | Jan 09, 2023 | $0.139 | 0.656% |
| 4 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.108 | 0.486% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.0420 | 0.137% |
FAQ
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