Global X Social Media Index ETF Forecast
Red day on Monday for Global X Social Media Index
(Updated on Apr 29, 2024)
The Global X Social Media Index ETF price fell by -0.0243% on the last day (Monday, 29th Apr 2024) from $41.15 to $41.14. During the last trading day the ETF fluctuated 2.04% from a day low at $40.62 to a day high of $41.45. The price has been going up and down for this period, and there has been a 7.19% gain for the last 2 weeks. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 thousand shares were bought and sold for approximately $615.29 thousand.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $41.40 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Global X Social Media Index ETF with a 90% probability to be traded between $38.09 and $41.33 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SOCL Signals & Forecast
The Global X Social Media Index 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 $39.90 and $39.96. 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 Friday, April 26, 2024, and so far it has fallen -0.0243%. 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). Global X Social Media Index gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Global X Social Media Index ETF
Global X Social Media Index finds support from accumulated volume at $39.17 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.83 (2.04%) between high and low. For the last week, the ETF has had daily average volatility of 1.87%.
Our recommended stop-loss: $39.93 (-2.95%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SOCL) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Global X Social Media Index ETF to open at $41.07, and during the day (based on 14 day Average True Range), to move between $40.34 and $41.94, which gives a possible trading interval of +/-$0.80 (+/-1.96%) up or down from last closing price. If Global X Social Media Index ETF takes out the full calculated possible swing range there will be an estimated 3.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.15 (0.02%) than the support at $39.17 (4.79%), 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 Social Media Index ETF ETF A Buy?
Global X Social Media Index 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: 0.462 Hold/Accumulate Unchanged
Predicted Opening Price for Global X Social Media Index ETF of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
$41.07 ( 0.170%) | $41.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOCL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.90 | 1.85 % | |
R2 | 41.58 | 1.08 % | ||
R1 | 41.39 | 0.601 % | ||
Current price: | 41.14 | |||
Support | S1 | 40.75 | -0.94 % | |
S2 | 40.56 | -1.42 % | ||
S3 | 40.24 | -2.19 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 41.47 | 0.80 % | ||
R1 | 41.15 | 0.0243 % | ||
Current price | 41.14 | |||
Support | S1 | 39.17 | -4.79% | |
S2 | 38.95 | -5.32% | ||
S3 | 38.38 | -6.71% |
SOCL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.0549 | 0.136% |
2 | Jun 28, 2023 | Jun 29, 2023 | Jul 10, 2023 | $0.191 | 0.513% |
3 | Jun 28, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.122 | 0.354% |
4 | Dec 28, 2017 | Dec 28, 2017 | Jan 09, 2018 | $0.490 | 1.41% |
5 | Dec 28, 2016 | Dec 28, 2016 | Jan 06, 2017 | $0.0390 | 0.171% |
FAQ
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