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RAYS
ETF ticker: NASDAQ
AS OF
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Net Assets
5.96M

RAYS Global X Solar ETF Forecast, Technical & Fundamental Analysis

Category Miscellaneous
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for RAYS with price predictions
07:00 PM EST Nov 27, 2023

RAYS in -3.27% downward trend, declining for three consecutive days on November 27, 2023

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where RAYS declined for three days, in of 146 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

RAYS broke above its upper Bollinger Band on November 14, 2023. 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 RAYS entered a downward trend on November 10, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where RAYS's RSI Oscillator exited the oversold zone, of 21 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.

The Momentum Indicator moved above the 0 level on November 09, 2023. You may want to consider a long position or call options on RAYS as a result. In of 37 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for RAYS just turned positive on November 03, 2023. Looking at past instances where RAYS's MACD turned positive, the stock continued to rise in of 15 cases 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 RAYS advanced for three days, in of 105 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed
A.I.Advisor
published Highlights

Notable companies

The most notable companies in this group are First Solar (NASDAQ:FSLR), Enphase Energy (NASDAQ:ENPH), SolarEdge Technologies (NASDAQ:SEDG), Canadian Solar (NASDAQ:CSIQ), SunPower Corp (NASDAQ:SPWR).

Industry description

The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Solar Index ("underlying index"). The fund invests at least 80% of its total assets, plus borrowings for investments purposes (if any), in the securities of the underlying index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the underlying index. The underlying index is designed to provide exposure to companies that are positioned to benefit from further advances in the field of solar technology. The fund is non-diversified.

Market Cap

The average market capitalization across the Global X Solar ETF ETF is 3.82B. The market cap for tickers in the group ranges from 77.68M to 16.52B. FSLR holds the highest valuation in this group at 16.52B. The lowest valued company is FTCI at 77.68M.

High and low price notable news

The average weekly price growth across all stocks in the Global X Solar ETF ETF was 13%. For the same ETF, the average monthly price growth was 43%, and the average quarterly price growth was -20%. FTCI experienced the highest price growth at 18%, while MAXN experienced the biggest fall at -9%.

Volume

The average weekly volume growth across all stocks in the Global X Solar ETF ETF was 27%. For the same stocks of the ETF, the average monthly volume growth was -41% and the average quarterly volume growth was 15%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 57
P/E Growth Rating: 93
Price Growth Rating: 69
SMR Rating: 69
Profit Risk Rating: 80
Seasonality Score: -12 (-100 ... +100)
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A.I. Advisor
published General Information

General Information

Category Miscellaneous

Profile
Fundamentals
Details
Category
Miscellaneous Sector
Address
Global X Funds600 Lexington Avenue, 20th FloorNew York
Phone
+1 8884938631
Web
www.globalxfunds.com
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RAYS and

Correlation & Price change

A.I.dvisor indicates that over the last year, RAYS has been closely correlated with TAN. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if RAYS jumps, then TAN could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To RAYS
1D Price
Change %
RAYS100%
+1.07%
TAN - RAYS
80%
Closely correlated
+1.48%
ICLN - RAYS
77%
Closely correlated
+1.31%
QCLN - RAYS
66%
Closely correlated
+2.17%
XT - RAYS
61%
Loosely correlated
+0.46%
GRID - RAYS
61%
Loosely correlated
N/A
More