SOCL Global X Social Media ETF Forecast, Technical & Fundamental Analysis
Momentum Indicator for SOCL turns positive, indicating new upward trend
SOCL saw its Momentum Indicator move above the 0 level on May 26, 2022. 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 70 similar instances where the indicator turned positive. In 63 of the 70 cases, the stock moved higher in the following days. The odds of a move higher are at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SOCL's RSI Indicator exited the oversold zone, of 34 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 48 cases where SOCL's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for SOCL just turned positive on May 26, 2022. Looking at past instances where SOCL's MACD turned positive, the stock continued to rise in of 52 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 SOCL advanced for three days, in of 345 cases, the price rose further within the following month. The odds of a continued upward trend are .
SOCL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SOCL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for SOCL entered a downward trend on May 25, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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General Information
Category Technology
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SOCL and ETFs
Correlation & Price change
A.I.dvisor indicates that over the last year, SOCL has been closely correlated with IYW. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if SOCL jumps, then IYW could also see price increases.
| Ticker / NAME | Correlation To SOCL | 1D Price Change % |
|---|---|---|
| SOCL | 100% | +4.34% |
| IYW - SOCL | 72% Closely correlated | +2.60% |
| VGT - SOCL | 70% Closely correlated | +2.54% |
| XLK - SOCL | 66% Loosely correlated | +2.40% |
| SMH - SOCL | 66% Loosely correlated | +3.34% |
| SOXX - SOCL | 65% Loosely correlated | +3.91% |