Global X Uranium ETF Forecast
Global X Uranium ETF upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Global X Uranium ETF price gained 3.77% on the last trading day (Friday, 17th May 2024), rising from $31.47 to $32.65. 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 5.00% from a day low at $31.42 to a day high of $32.99. The price has risen in 7 of the last 10 days and is up by 5.9% 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, 6 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $270.90 million.
The ETF lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $33.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 13.32% during the next 3 months and, with a 90% probability hold a price between $33.54 and $37.86 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 $31.52 and $30.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 13.49%. 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.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 with a target of $29.75. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.57 between high and low, or 5.00%. For the last week, the ETF has had daily average volatility of 2.43%.
Our recommended stop-loss: $31.39 (-3.85%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (URA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Global X Uranium ETF to open at $32.35, and during the day (based on 14 day Average True Range), to move between $31.70 and $33.60, which gives a possible trading interval of +/-$0.95 (+/-2.92%) 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 5.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $29.45, some $3.20 (9.80%) from the current price of $32.65, 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 strong 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: 6.963 Strong Buy Candidate Upgraded
Predicted Opening Price for Global X Uranium ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $32.35 ( 0.91%) | $32.65 |
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 | 33.92 | 3.90 % | |
| R2 | 33.32 | 2.06 % | ||
| R1 | 32.95 | 0.93 % | ||
| Current price: | 32.65 | |||
| Support | S1 | 31.75 | -2.75 % | |
| S2 | 31.38 | -3.88 % | ||
| S3 | 30.78 | -5.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.65 | |||
| Support | S1 | 29.45 | -9.80% | |
| S2 | 28.06 | -14.06% | ||
| S3 | 28.01 | -14.21% |
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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