Global X Internet of Things Thematic ETF Forecast

Global X Internet of Things Thematic ETF price down 1.61% on Wednesday
(Updated on May 01, 2024)

SNSR Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Global X Internet of Things Thematic 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 $34.55 and $35.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.56%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Global X Internet of Things Thematic ETF

Global X Internet of Things Thematic finds support from accumulated volume at $33.80 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.600 between high and low, or 1.76%. For the last week the ETF has had daily average volatility of 1.43%.

Our recommended stop-loss: $32.42 (-5.18%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (SNSR) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Global X Internet of Things Thematic ETF to open at $34.38, and during the day (based on 14 day Average True Range), to move between $33.60 and $34.78, which gives a possible trading interval of +/-$0.591 (+/-1.73%) up or down from last closing price. If Global X Internet of Things Thematic ETF takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.53 (0.99%) than the support at $33.80 (1.14%), 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 Internet of Things Thematic ETF ETF A Buy?

Global X Internet of Things Thematic 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: -0.699 Hold/Accumulate Unchanged

Predicted Opening Price for Global X Internet of Things Thematic ETF of Thursday, May 2, 2024

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