Global X U.S. Preferred ETF Forecast
Global X U.S. Preferred ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Global X U.S. Preferred ETF price fell by -1.18% on the last day (Tuesday, 30th Apr 2024) from $19.52 to $19.29. During the last trading day the ETF fluctuated 1.19% from a day low at $19.28 to a day high of $19.51. The price has been going up and down for this period, and there has been a 0.73% gain for the last 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 -770 thousand shares and in total, 531 thousand shares were bought and sold for approximately $10.24 million.
The ETF lies in the middle of a 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 -2.92% during the next 3 months and, with a 90% probability hold a price between $18.50 and $19.52 at the end of this 3-month period.
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PFFD Signals & Forecast
There are mixed signals in the ETF today. The Global X U.S. Preferred 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 $19.45 and $19.83. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.731%. 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).
Support, Risk & Stop-loss for Global X U.S. Preferred ETF
Global X U.S. Preferred finds support from accumulated volume at $19.22 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 $0.230 between high and low, or 1.19%. For the last week the ETF has had daily average volatility of 0.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PFFD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Global X U.S. Preferred ETF to open at $19.36, and during the day (based on 14 day Average True Range), to move between $19.10 and $19.48, which gives a possible trading interval of +/-$0.195 (+/-1.01%) up or down from last closing price. If Global X U.S. Preferred ETF takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.22 (0.36%) than the resistance at $20.00 (3.68%), 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 U.S. Preferred ETF ETF A Buy?
Global X U.S. Preferred holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.621 Sell Candidate Downgraded
Predicted Opening Price for Global X U.S. Preferred ETF of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $19.36 ( 0.363%) | $19.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFFD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.59 | 1.56 % | |
| R2 | 19.50 | 1.10 % | ||
| R1 | 19.45 | 0.82 % | ||
| Current price: | 19.29 | |||
| Support | S1 | 19.27 | -0.0926 % | |
| S2 | 19.22 | -0.374 % | ||
| S3 | 19.13 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.22 | 4.82 % | |
| R2 | 20.02 | 3.78 % | ||
| R1 | 20.00 | 3.68 % | ||
| Current price | 19.29 | |||
| Support | S1 | 19.22 | -0.363% | |
| S2 | 19.18 | -0.570% | ||
| S3 | 19.15 | -0.726% |
PFFD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Apr 03, 2024 | Apr 11, 2024 | $0.105 | 0.536% |
| 2 | Dec 28, 2023 | Mar 05, 2024 | Mar 13, 2024 | $0.105 | 0.519% |
| 3 | Dec 28, 2023 | Feb 05, 2024 | Feb 13, 2024 | $0.105 | 0.530% |
| 4 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.105 | 0.537% |
| 5 | Dec 05, 2023 | Dec 05, 2023 | Dec 05, 2023 | $0.105 | 0.550% |
FAQ
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