GLOBAL X MSCI COLOMBIA ETF Forecast

GLOBAL X MSCI COLOMBIA ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)

GXG Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.531%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GLOBAL X MSCI COLOMBIA ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.93 and $26.31. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for GLOBAL X MSCI COLOMBIA ETF

GLOBAL X MSCI COLOMBIA finds support from accumulated volume at $24.57 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 $0.510 between high and low, or 2.09%. For the last week the ETF has had daily average volatility of 1.54%.

GLOBAL X MSCI COLOMBIA is oversold on RSI14 (21). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $22.98 (-6.58%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (GXG) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect GLOBAL X MSCI COLOMBIA ETF to open at $24.62, and during the day (based on 14 day Average True Range), to move between $24.19 and $25.01, which gives a possible trading interval of +/-$0.415 (+/-1.69%) up or down from last closing price. If GLOBAL X MSCI COLOMBIA ETF takes out the full calculated possible swing range there will be an estimated 3.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $24.57 (0.12%) than the resistance at $25.23 (2.56%), 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 MSCI COLOMBIA ETF ETF A Buy?

GLOBAL X MSCI COLOMBIA holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.775 Hold/Accumulate Upgraded

Predicted Opening Price for GLOBAL X MSCI COLOMBIA ETF of Friday, June 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.