The Global X Cloud Computing ETF ran up 33 % from May 2021 to November 2021 and has given back nearly 90% of that gain.
Harmonically (Shark Pattern and ABCD) one could build as case for a pending reversal.
As this is a counter-trend trade I'd like to see evidence of a reverse both with momentum turning up and signs of a definite price reversal.
To this end I...
as per requested.
overall trend for CLOU is still uptrend..
as here we can see the market break above $29-30 and supported. (was previous resistance back on Dec)
BUT , we can see some divergence in MACD..
the high is getting higher, but in MACD, the high is getting lower ( can refer back what happen in Dec20 and Feb21 high).
this indicates the bull is...
I have some calls on this, it just struggles to break that $26 barrier. Once it breaks out, it should melt up with some significant gains.
MACD, Stochastic and ATR are all supportive indicators along with volume over the past 2 days. There is also a cup and handle sort of formation taking place right now.
I really like this ETF NASDAQ:CLOU and now is looking good. Is one of the leading tech industries due the higher demand for online solutions for everything, and I believe that is just getting started. It broke out of a symmetrical triangle with good buying volume and now is testing the 20 day MA with low selling volume, for me that's a good buy signal. All...
Global X Cloud Computing ETF continues to take off as the broader market makes sideways or smaller increases in comparison. The price is very attractive at around $20 per share that offers exposure to Twilio "TWLO" 6.06%, Zscaler "ZS" 5.04%, Zoom Video "ZM" 4.57%, Coupa Software "COUP" 4.45%, Shopify "SHOP" 4.10%, Paycom "PAYC" 3.94% and quite a few others...