GLOBAL X LITHIUM GLOBAL X LITHIUM ETF Forecast
GLOBAL X LITHIUM GLOBAL X LITHIUM ETF price up 0.81% on Friday
(Updated on May 03, 2024)
The GLOBAL X LITHIUM GLOBAL X LITHIUM ETF price gained 0.81% on the last trading day (Friday, 3rd May 2024), rising from $45.63 to $46.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.33% from a day low at $45.85 to a day high of $46.46. The price has risen in 7 of the last 10 days and is up by 8.44% over the past 2 weeks. Volume fell on the last day by -276 thousand shares and in total, 286 thousand shares were bought and sold for approximately $13.16 million. 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 wide and weak 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 3.95% during the next 3 months and, with a 90% probability hold a price between $43.76 and $50.38 at the end of this 3-month period.
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LIT Signals & Forecast
The GLOBAL X LITHIUM GLOBAL X LITHIUM 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 $44.21 and $44.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 9.81%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for GLOBAL X LITHIUM GLOBAL X LITHIUM ETF
GLOBAL X LITHIUM GLOBAL X LITHIUM finds support from accumulated volume at $45.84 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 $0.612 between high and low, or 1.33%. For the last week, the ETF has had daily average volatility of 2.34%.
Our recommended stop-loss: $44.49 (-3.28%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (LIT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect GLOBAL X LITHIUM ETF GLOBAL X LITHIUM ETF to open at $46.10, and during the day (based on 14 day Average True Range), to move between $44.90 and $47.10, which gives a possible trading interval of +/-$1.10 (+/-2.40%) up or down from last closing price. If GLOBAL X LITHIUM ETF GLOBAL X LITHIUM ETF takes out the full calculated possible swing range there will be an estimated 4.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $46.06 (0.13%) than the support at $45.84 (0.35%), 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 LITHIUM ETF GLOBAL X LITHIUM ETF ETF A Buy?
GLOBAL X LITHIUM GLOBAL X LITHIUM holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.746 Hold/Accumulate Unchanged
Predicted Opening Price for GLOBAL X LITHIUM ETF GLOBAL X LITHIUM ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $46.10 ( 0.224%) | $46.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.71 | 1.55 % | |
| R2 | 46.48 | 1.05 % | ||
| R1 | 46.34 | 0.731 % | ||
| Current price: | 46.00 | |||
| Support | S1 | 45.87 | -0.284 % | |
| S2 | 45.72 | -0.598 % | ||
| S3 | 45.49 | -1.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.16 | 2.52 % | |
| R2 | 46.11 | 0.239 % | ||
| R1 | 46.06 | 0.130 % | ||
| Current price | 46.00 | |||
| Support | S1 | 45.84 | -0.348% | |
| S2 | 43.54 | -5.35% | ||
| S3 | 43.37 | -5.72% |
LIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.358 | 0.690% |
| 2 | Jan 11, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.208 | 0.308% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.517 | 0.87% |
| 4 | Feb 01, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.0620 | 0.0829% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $0.148 | 0.183% |
FAQ
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