Global X S&p 500 High Yield Low ETF Forecast
Stronger technical forecast for Global X S&p 500 High Yield Low ETF price after Friday trading.
(Updated on Jun 28, 2024)
The Global X S&p 500 High Yield Low ETF price gained 0.221% on the last trading day (Friday, 28th Jun 2024), rising from $13.60 to $13.63. During the last trading day the ETF fluctuated 0.514% from a day low at $13.62 to a day high of $13.69. The price has been going up and down for this period, and there has been a -0.66% loss for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $26.82 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $13.54 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Global X S&p 500 High Yield Low ETF with a 90% probability to be traded between $13.71 and $14.18 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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ZYUS.AX Signals & Forecast
The Global X S&p 500 High Yield Low 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 $13.70 and $13.77. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.221%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Tuesday, May 07, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Tuesday, May 07, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A sell signal from a double top formation was found on Monday, June 03, 2024 and based on theory for this formation the price should fall by -1.69% to $13.40 within 9 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Global X S&p 500 High Yield Low ETF
Global X S&p 500 High Yield Low finds support from accumulated volume at $13.58 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 therefore the general risk is considered very 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 $0.0700 between high and low, or 0.514%. For the last week the ETF has had daily average volatility of 0.541%
Our recommended stop-loss: $12.86 (-5.67%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ZYUS.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Global X S&p 500 High Yield Low Volatility Etf to open at $13.65, and during the day (based on 14 day Average True Range), to move between $13.52 and $13.74, which gives a possible trading interval of +/-$0.109 (+/-0.80%) up or down from last closing price. If Global X S&p 500 High Yield Low Volatility Etf takes out the full calculated possible swing range there will be an estimated 1.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.58 (0.37%) than the resistance at $13.71 (0.59%), 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 S&p 500 High Yield Low Volatility Etf ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.148 Buy Candidate Upgraded
Predicted Opening Price for Global X S&p 500 High Yield Low Volatility Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $13.65 ( 0.122%) | $13.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZYUS.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.72 | 0.636% |
| R2 | 13.69 | 0.440% |
| R1 | 13.67 | 0.318% |
| Price | 13.63 | |
| S1 | 13.62 | -0.0739% |
| S2 | 13.60 | -0.195% |
| S3 | 13.58 | -0.391% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.92 | 2.13% |
| R2 | 13.88 | 1.83% |
| R1 | 13.71 | 0.587% |
| Price | 13.63 | |
| S1 | 13.58 | -0.367% |
| S2 | 13.56 | -0.514% |
| S3 | 13.46 | -1.25% |
FAQ
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