GLOBAL X COPPER MINERS ETF (COPX) Stock Technical Analysis
NYSEARCA:COPX - NYSE Arca - US37954Y8306 - ETF - Currency: USD
Taking everything into account, COPX scores 7 out of 10 in our technical rating. Although COPX is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, COPX also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 46.20. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 44.77, a Stop Loss order could be placed below this zone.
More info and screens
31.78
When analyzing the support we can see 2 important areas.
- A support zone ranging from 43.86 to 44.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @32.10 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 46.20 to 46.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for COPX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for COPX is neutral. |
| ChartMill Relative Strength | 64.2 | NEUTRAL | COPX is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of COPX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of COPX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of COPX is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.68 | NEUTRAL | The RSI value for COPX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.26 | NEGATIVE | The MACD value suggests COPX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 19.13 | OVERSOLD | The low Stochastics value suggests COPX may be oversold. |
| Average True Range in percent/ATR (20) | 2.22 | MEDIUM VOLATILITY | The ATR as a percentage value for COPX suggests some volalility. |
| Average Directional Index/ADX (14) | 21.77 | NEUTRAL | The ADX value for COPX suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 46.64 | 43.85 | 2.79 (5.98%) | 16.72% |
| An entry @46.64. This is a Buy Stop order right above the resistance zone. | An exit @43.85. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 2.79 points, which is 5.98%. | For a 1.00% total portfolio risk, you can invest 16.72% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
44.88
+1.01 (+2.3%)