BITS Global X Blockchain & Bitcoin Str ETF Forecast, Technical & Fundamental Analysis
BITS in +5.43% Uptrend, growing for three consecutive days on December 17, 2024
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where BITS advanced for three days, in of 171 cases, the price rose further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
BITS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 141 cases where BITS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for BITS moved out of overbought territory on November 25, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 22 similar instances where the indicator moved out of overbought territory. In of the 22 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on December 18, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BITS as a result. In of 54 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for BITS turned negative on December 02, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 28 similar instances when the indicator turned negative. In of the 28 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BITS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
General Information
Category Digitalccurrency
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
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| Nuveen Global Equity Income C | |||
| FRIFX | 11.90 | 0.06 | +0.52% |
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| AGAZX | 12.30 | 0.04 | +0.33% |
| Allspring Global Long/Short Equity Inst | |||
BITS and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, BITS has been closely correlated with BKCH. These tickers have moved in lockstep 93% of the time. This A.I.-generated data suggests there is a high statistical probability that if BITS jumps, then BKCH could also see price increases.
| Ticker / NAME | Correlation To BITS | 1D Price Change % | ||
|---|---|---|---|---|
| BITS | 100% | +0.15% | ||
| BKCH - BITS | 93% Closely correlated | +1.14% | ||
| BLOK - BITS | 91% Closely correlated | +1.22% | ||
| BITQ - BITS | 90% Closely correlated | +3.63% | ||
| BITO - BITS | 87% Closely correlated | N/A | ||
| GBTC - BITS | 87% Closely correlated | +0.20% | ||
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