Global X Hydrogen ETF Forecast
Global X Hydrogen ETF price down 0.360% on Tuesday
(Updated on May 07, 2024)
The Global X Hydrogen ETF price fell by -0.360% on the last day (Tuesday, 7th May 2024) from $5.56 to $5.54. During the last trading day the ETF fluctuated 1.27% from a day low at $5.53 to a day high of $5.60. The price has risen in 6 of the last 10 days and is up by 7.36% over the past 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 -17 thousand shares and in total, 35 thousand shares were bought and sold for approximately $196.49 thousand.
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 -7.84% during the next 3 months and, with a 90% probability hold a price between $4.50 and $5.29 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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HYDR Signals & Forecast
The Global X Hydrogen ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.39 and $5.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 11.92%. 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. 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 Hydrogen ETF
Global X Hydrogen finds support from accumulated volume at $5.53 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 $0.0700 between high and low, or 1.27%. For the last week the ETF has had daily average volatility of 2.47%.
Our recommended stop-loss: $5.34 (-3.66%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (HYDR) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Global X Hydrogen ETF to open at $5.56, and during the day (based on 14 day Average True Range), to move between $5.38 and $5.70, which gives a possible trading interval of +/-$0.163 (+/-2.94%) up or down from last closing price. If Global X Hydrogen ETF takes out the full calculated possible swing range there will be an estimated 5.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.53 (0.18%) than the resistance at $5.57 (0.54%), 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 Hydrogen ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 2.795 Buy Candidate Unchanged
Predicted Opening Price for Global X Hydrogen ETF of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $5.56 ( 0.301%) | $5.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYDR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.63 | 1.56 % | |
| R2 | 5.60 | 1.08 % | ||
| R1 | 5.58 | 0.784 % | ||
| Current price: | 5.54 | |||
| Support | S1 | 5.53 | -0.182 % | |
| S2 | 5.51 | -0.480 % | ||
| S3 | 5.49 | -0.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.89 | 6.32 % | |
| R2 | 5.59 | 0.90 % | ||
| R1 | 5.57 | 0.542 % | ||
| Current price | 5.54 | |||
| Support | S1 | 5.53 | -0.181% | |
| S2 | 5.52 | -0.361% | ||
| S3 | 5.36 | -3.25% |
HYDR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.0120 | 0.0630% |
FAQ
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