Global X MLP & Energy Infrastructure ETF Forecast
Stronger technical forecast for Global X MLP & Energy Infrastructure ETF price after Thursday trading.
(Updated on May 02, 2024)
The Global X MLP & Energy Infrastructure ETF price gained 1.42% on the last trading day (Thursday, 2nd May 2024), rising from $47.96 to $48.64. During the last trading day the ETF fluctuated 1.39% from a day low at $48.16 to a day high of $48.83. The price has risen in 7 of the last 10 days and is up by 2.38% over the past 2 weeks. Volume fell on the last day by -71 thousand shares and in total, 121 thousand shares were bought and sold for approximately $5.87 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 narrow and strong 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 12.26% during the next 3 months and, with a 90% probability hold a price between $53.81 and $55.87 at the end of this 3-month period.
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MLPX Signals & Forecast
The Global X MLP & Energy Infrastructure ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $48.89. On a fall, the ETF will find some support from the long-term average at approximately $48.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.74%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Global X MLP & Energy Infrastructure ETF
Global X MLP & Energy Infrastructure finds support from accumulated volume at $48.56 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 $0.670 between high and low, or 1.39%. For the last week the ETF has had daily average volatility of 1.18%.
Our recommended stop-loss: $46.71 (-3.97%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (MLPX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Global X MLP & Energy Infrastructure ETF to open at $48.54, and during the day (based on 14 day Average True Range), to move between $48.01 and $49.27, which gives a possible trading interval of +/-$0.630 (+/-1.29%) up or down from last closing price. If Global X MLP & Energy Infrastructure ETF takes out the full calculated possible swing range there will be an estimated 2.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.56 (0.16%) than the resistance at $48.74 (0.21%), 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 MLP & Energy Infrastructure ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Global X MLP & Energy Infrastructure ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.682 Buy Candidate Upgraded
Predicted Opening Price for Global X MLP & Energy Infrastructure ETF of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$48.54 ( 0.199%) | $48.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MLPX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 49.21 | 1.18 % | |
R2 | 48.96 | 0.653 % | ||
R1 | 48.80 | 0.327 % | ||
Current price: | 48.64 | |||
Support | S1 | 48.29 | -0.725 % | |
S2 | 48.13 | -1.05 % | ||
S3 | 47.87 | -1.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 49.07 | 0.88 % | |
R2 | 49.02 | 0.781 % | ||
R1 | 48.74 | 0.206 % | ||
Current price | 48.64 | |||
Support | S1 | 48.56 | -0.164% | |
S2 | 48.36 | -0.576% | ||
S3 | 44.44 | -8.63% |
MLPX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Feb 07, 2024 | Feb 15, 2024 | $0.600 | 1.35% |
2 | Mar 10, 2023 | Nov 07, 2023 | Nov 15, 2023 | $0.600 | 1.39% |
3 | Mar 10, 2023 | Aug 07, 2023 | Aug 15, 2023 | $0.600 | 1.42% |
4 | Mar 10, 2023 | May 05, 2023 | May 15, 2023 | $0.580 | 1.47% |
5 | Feb 07, 2023 | Feb 07, 2023 | Feb 07, 2023 | $0.550 | 1.32% |
FAQ
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