Global X Uranium ETF Forecast
Stronger technical forecast for Global X Uranium ETF price after Monday trading.
(Updated on May 06, 2024)
The Global X Uranium ETF price gained 2.89% on the last trading day (Monday, 6th May 2024), rising from $30.83 to $31.72. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.92% from a day low at $31.00 to a day high of $31.90. The price has risen in 8 of the last 10 days and is up by 9.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $96.44 million.
The ETF lies in the middle of a wide 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 5.34% during the next 3 months and, with a 90% probability hold a price between $29.87 and $34.73 at the end of this 3-month period.
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URA Signals & Forecast
Mostly positive signals in the chart today. The Global X Uranium 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 $30.21 and $29.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 23, 2024, and so far it has risen 17.57%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Global X Uranium ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $29.45 and $28.06. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Global X Uranium finds support just below today's level at $29.45. If this is broken, then the next support from accumulated volume will be at $28.06 and $28.01.
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 $0.90 (2.92%) between high and low. For the last week, the ETF has had daily average volatility of 3.31%.
Our recommended stop-loss: $30.58 (-3.58%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 50 days ago.)
Trading Expectations (URA) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Global X Uranium ETF to open at $31.54, and during the day (based on 14 day Average True Range), to move between $30.70 and $32.74, which gives a possible trading interval of +/-$1.02 (+/-3.22%) up or down from last closing price. If Global X Uranium ETF takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.45, some $2.27 (7.16%) from the current price of $31.72, our system finds the risk reward attractive.
Is Global X Uranium ETF ETF A Buy?
Global X Uranium holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.657 Strong Buy Candidate Upgraded
Predicted Opening Price for Global X Uranium ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $31.54 ( 0.573%) | $31.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.44 | 2.28 % | |
| R2 | 32.10 | 1.19 % | ||
| R1 | 31.88 | 0.517 % | ||
| Current price: | 31.72 | |||
| Support | S1 | 31.19 | -1.66 % | |
| S2 | 30.98 | -2.34 % | ||
| S3 | 30.63 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31.72 | |||
| Support | S1 | 29.45 | -7.16% | |
| S2 | 28.06 | -11.54% | ||
| S3 | 28.01 | -11.70% |
URA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $1.68 | 6.13% |
| 2 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.0490 | 0.246% |
| 3 | Feb 01, 2022 | Jun 29, 2022 | Jul 08, 2022 | $0.103 | 0.533% |
| 4 | Dec 29, 2021 | Dec 30, 2021 | Jan 07, 2022 | $1.31 | 5.41% |
| 5 | Jan 07, 2021 | Jun 29, 2021 | Jul 08, 2021 | $0.0250 | 0.124% |
FAQ
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