Global X Renewable Energy Producers ETF Forecast

$9.85
+0.0100 (+0.102%)
At Close: Mar 28, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Global X Renewable Energy Producers ETF upgraded to Buy Candidate.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Global X Renewable Energy Producers ETF price gained 0.102% on the last trading day (Thursday, 28th Mar 2024), rising from $9.84 to $9.85. During the last trading day the ETF fluctuated 0.510% from a day low at $9.80 to a day high of $9.85. The price has been going up and down for this period, and there has been a 1.13% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately $167.71 thousand.

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 -11.28% during the next 3 months and, with a 90% probability hold a price between $8.37 and $8.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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RNRG Signals & Forecast

The Global X Renewable Energy Producers 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 $9.78 and $9.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 2.56%. Further rise is indicated until a new top pivot has been found. Global X Renewable Energy Producers has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Global X Renewable Energy Producers ETF

Global X Renewable Energy Producers finds support from accumulated volume at $9.78 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 $0.0500 between high and low, or 0.510%. For the last week the ETF has had daily average volatility of 0.95%.

Our recommended stop-loss: $9.30 (-5.61%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (RNRG) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Global X Renewable Energy Producers ETF to open at $9.83, and during the day (based on 14 day Average True Range), to move between $9.73 and $9.97, which gives a possible trading interval of +/-$0.124 (+/-1.26%) up or down from last closing price. If Global X Renewable Energy Producers ETF takes out the full calculated possible swing range there will be an estimated 2.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.78 (0.71%) than the resistance at $9.93 (0.81%), 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 Renewable Energy Producers ETF ETF A Buy?

Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.664 Buy Candidate Upgraded

Predicted Opening Price for Global X Renewable Energy Producers ETF of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$9.83 ( 0.169%) $9.85

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for RNRG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 9.88 0.338 %
R2 9.86 0.145 %
R1 9.85 0.0247 %
Current price: 9.85
Support S1 9.81 -0.363 %
S2 9.80 -0.483 %
S3 9.78 -0.677 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 10.25 4.06 %
R2 10.22 3.76 %
R1 9.93 0.81 %
Current price 9.85
Support S1 9.78 -0.711%
S2 9.67 -1.87%
S3 9.60 -2.49%

RNRG Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Dec 28, 2023 Dec 28, 2023 Jan 08, 2024 $0.0824 0.748%
2 Jun 28, 2023 Jun 29, 2023 Jul 10, 2023 $0.0790 0.672%
3 Dec 28, 2022 Dec 29, 2022 Jan 09, 2023 $0.0620 0.471%
4 Jun 28, 2022 Jun 29, 2022 Jul 08, 2022 $0.0890 0.613%
5 Dec 29, 2021 Dec 30, 2021 Jan 07, 2022 $0.0700 0.473%

FAQ

What is the symbol for Global X Renewable Energy Producers ETF ETF and on which exchange is it traded?
The symbol for Global X Renewable Energy Producers ETF is RNRG and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell Global X Renewable Energy Producers ETF ETF?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Global X Renewable Energy Producers ETF ETF?
Global X Renewable Energy Producers ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Global X Renewable Energy Producers ETF ETF.

What's the current price of Global X Renewable Energy Producers ETF ETF?
As of the end of day on the 2024-03-28, the price of an Global X Renewable Energy Producers ETF (RNRG) share was $9.85.

What is the 52-week high and low for Global X Renewable Energy Producers ETF ETF?
The 52-week high for Global X Renewable Energy Producers ETF ETF is $12.64 and the 52-week low is $9.12.

What is the market capitalization of Global X Renewable Energy Producers ETF ETF?
As of the 2024-03-28, the market capitalization of Global X Renewable Energy Producers ETF is 39.478M.
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About Global X Renewable Energy Producers ETF

The fund invests at least 80% of its total assets in the securities of the underlying index and in ADRs and GDRs based on the securities in the underlying index. The underlying index is designed to provide exposure to publicly traded companies that produce energy from renewable sources including wind, solar, hydroelectric, geothermal, and biofuels (including publicly traded companies that are formed to own operating assets that produce defined ca... RNRG Profile

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