Global X Social Media Index ETF Forecast
Global X Social Media Index ETF upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Global X Social Media Index ETF price gained 0.425% on the last trading day (Wednesday, 24th Apr 2024), rising from $39.96 to $40.13. It has now gained 3 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 1.44% from a day low at $39.72 to a day high of $40.29. The price has been going up and down for this period, and there has been a 0.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 39 thousand shares were bought and sold for approximately $1.57 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Global X Social Media Index ETF with a 90% probability to be traded between $37.88 and $40.95 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 $38.98 and $39.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.16%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $0.570 (1.44%) between high and low. For the last week, the ETF has had daily average volatility of 1.45%.
Our recommended stop-loss: $38.34 (-4.45%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SOCL) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Global X Social Media Index ETF to open at $40.05, and during the day (based on 14 day Average True Range), to move between $39.45 and $40.81, which gives a possible trading interval of +/-$0.676 (+/-1.68%) 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 3.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.19 (0.15%) than the support at $39.17 (2.39%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Global X Social Media Index ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.574 Buy Candidate Upgraded
Predicted Opening Price for Global X Social Media Index ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $40.05 ( 0.208%) | $40.13 |
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 | 40.62 | 1.21 % | |
| R2 | 40.40 | 0.670 % | ||
| R1 | 40.26 | 0.335 % | ||
| Current price: | 40.13 | |||
| Support | S1 | 39.83 | -0.750 % | |
| S2 | 39.69 | -1.09 % | ||
| S3 | 39.48 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.84 | 1.77 % | |
| R2 | 40.64 | 1.27 % | ||
| R1 | 40.19 | 0.150 % | ||
| Current price | 40.13 | |||
| Support | S1 | 39.17 | -2.39% | |
| S2 | 38.95 | -2.94% | ||
| S3 | 38.38 | -4.36% |
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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