MLPA Stock Tickeron detected bullish ETF Pattern: Pennant MLPA on October 01, 2024, netting in a 2.45% gain over 1 month

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MLPA - Global X MLP ETF

Ticker: MLPA

Company: Global X MLP ETF

Gain: +2.45%

Confirmed: 10/01/24

Succeeded: 11/06/24

Total length: 42 days

Momentum Indicator for MLPA turns positive, indicating new upward trend

MLPA saw its Momentum Indicator move above the 0 level on November 05, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 72 similar instances where the indicator turned positive. In of the 72 cases, the stock moved higher in the following days. The odds of a move higher are at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for MLPA just turned positive on November 06, 2024. Looking at past instances where MLPA's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .

MLPA moved above its 50-day moving average on November 05, 2024 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for MLPA crossed bullishly above the 50-day moving average on November 07, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MLPA advanced for three days, in of 363 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where MLPA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

MLPA broke above its upper Bollinger Band on November 22, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for MLPA entered a downward trend on November 05, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.