Global X MLP ETF Forecast
Global X MLP ETF price ended at $46.61 on Wednesday, after gaining 0.691%.
(Updated on Apr 17, 2024)
The Global X MLP ETF price gained 0.691% on the last trading day (Wednesday, 17th Apr 2024), rising from $46.29 to $46.61. During the last trading day the ETF fluctuated 1.26% from a day low at $46.29 to a day high of $46.87. The price has fallen in 9 of the last 10 days and is down by -4.84% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 232 thousand more shares were traded than the day before. In total, 323 thousand shares were bought and sold for approximately $15.04 million.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $46.34 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 7.18% during the next 3 months and, with a 90% probability hold a price between $49.67 and $53.07 at the end of this 3-month period.
MLPA Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.691%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global X MLP 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 $47.15 and $47.61. 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). The ETF had a Golden Star Signal on Wednesday, June 14, 2023 in the long-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 12 Months
The ETF had a Golden Star Signal on Wednesday, June 14, 2023 in the long-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 MLP ETF
Global X MLP finds support from accumulated volume at $44.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.584 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 1.43%.
Our recommended stop-loss: $43.81 (-6.02%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MLPA) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Global X MLP ETF to open at $46.59, and during the day (based on 14 day Average True Range), to move between $46.09 and $47.13, which gives a possible trading interval of +/-$0.515 (+/-1.10%) up or down from last closing price. If Global X MLP ETF takes out the full calculated possible swing range there will be an estimated 2.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.19 (1.24%) than the support at $44.89 (3.69%), 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 MLP ETF ETF A Buy?
Global X MLP 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.
Current score: -0.045 Hold/Accumulate Unchanged
Predicted Opening Price for Global X MLP ETF of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$46.59 ( 0.0461%) | $46.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MLPA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.17 | 1.21 % | |
R2 | 46.95 | 0.729 % | ||
R1 | 46.81 | 0.433 % | ||
Current price: | 46.61 | |||
Support | S1 | 46.37 | -0.525 % | |
S2 | 46.23 | -0.82 % | ||
S3 | 46.00 | -1.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 48.35 | 3.73 % | |
R2 | 48.21 | 3.43 % | ||
R1 | 47.19 | 1.24 % | ||
Current price | 46.61 | |||
Support | S1 | 44.89 | -3.69% | |
S2 | 44.84 | -3.80% | ||
S3 | 44.26 | -5.04% |
MLPA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Feb 07, 2024 | Feb 15, 2024 | $0.87 | 1.90% |
2 | Nov 07, 2023 | Nov 07, 2023 | Nov 07, 2023 | $0.87 | 1.97% |
3 | Mar 10, 2023 | Aug 07, 2023 | Aug 15, 2023 | $0.84 | 1.96% |
4 | Mar 10, 2023 | May 05, 2023 | May 15, 2023 | $0.84 | 2.00% |
5 | Feb 07, 2023 | Feb 07, 2023 | Feb 07, 2023 | $0.770 | 1.81% |
FAQ
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