Global X NASDAQ 100 Covered Call ETF Forecast
Global X NASDAQ 100 Covered Call ETF downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The Global X NASDAQ 100 Covered Call ETF price fell by -0.112% on the last day (Thursday, 28th Mar 2024) from $17.93 to $17.91. During the last trading day the ETF fluctuated 0.223% from a day low at $17.91 to a day high of $17.95. The price has been going up and down for this period, and there has been a -0.5% loss 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 -488 thousand shares and in total, 3 million shares were bought and sold for approximately $47.70 million.
The ETF lies in the middle of a narrow 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 3.45% during the next 3 months and, with a 90% probability hold a price between $18.27 and $18.72 at the end of this 3-month period.
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QYLD Signals & Forecast
The Global X NASDAQ 100 Covered Call ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $17.89 and $17.85. A breakdown below any of these levels will issue sell signals. 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 Thursday, March 14, 2024, and so far it has fallen -0.500%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Global X NASDAQ 100 Covered Call ETF
Global X NASDAQ 100 Covered Call finds support from accumulated volume at $17.89 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 $0.0400 between high and low, or 0.223%. For the last week the ETF has had daily average volatility of 0.269%.
Our recommended stop-loss: $17.17 (-4.12%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (QYLD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Global X NASDAQ 100 Covered Call ETF to open at $17.92, and during the day (based on 14 day Average True Range), to move between $17.83 and $17.99, which gives a possible trading interval of +/-$0.0809 (+/-0.45%) up or down from last closing price. If Global X NASDAQ 100 Covered Call ETF takes out the full calculated possible swing range there will be an estimated 0.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.92 (0.06%) than the support at $17.89 (0.11%), 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 NASDAQ 100 Covered Call ETF ETF A Buy?
Global X NASDAQ 100 Covered Call 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.036 Hold/Accumulate Downgraded
Predicted Opening Price for Global X NASDAQ 100 Covered Call ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$17.92 ( 0.0744%) | $17.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QYLD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.96 | 0.298 % | |
R2 | 17.95 | 0.212 % | ||
R1 | 17.94 | 0.160 % | ||
Current price: | 17.91 | |||
Support | S1 | 17.91 | -0.0109 % | |
S2 | 17.90 | -0.0636 % | ||
S3 | 17.88 | -0.149 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.00 | 0.503 % | |
R2 | 17.93 | 0.112 % | ||
R1 | 17.92 | 0.0558 % | ||
Current price | 17.91 | |||
Support | S1 | 17.89 | -0.112% | |
S2 | 17.84 | -0.391% | ||
S3 | 17.80 | -0.614% |
QYLD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 30, 2024 | Dec 30, 2024 | Jan 07, 2025 | $0.0650 | 0.363% |
2 | Mar 15, 2024 | Mar 18, 2024 | Mar 26, 2024 | $0.178 | 1.00% |
3 | Feb 29, 2024 | Feb 29, 2024 | Mar 14, 2024 | $0.0650 | 0.361% |
4 | Feb 16, 2024 | Feb 20, 2024 | Feb 28, 2024 | $0.177 | 1.00% |
5 | Jan 19, 2024 | Jan 22, 2024 | Jan 30, 2024 | $0.179 | 1.01% |
FAQ
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