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RAYS Forecast

Bullish Case: RAYS could rally if solar sentiment improves or positive economic indicators emerge, leveraging its historical mean-reversion tendency, with high volatility suggesting potential for significant price enhancements.

Bearish Case: A continued downtrend appears likely if economic uncertainty persists, compounded by elevated market volatility indicating heightened risk and downside pressure on RAYS's price.

Potential Outcomes:

1. Moderate Recovery: 30% chance due to improved sentiment.

2. Continued Decline: 50% chance from economic pressures.

3. Major Rally: 20% chance from positive sector developments.

Trading Oracle: Adopt a bullish stance by establishing a debit spread: buy RAYS 10.00 C and sell 12.00 C. High implied volatility suggests capturing gains from potential volatility contraction while limiting risk. Target a hold period of 2-3 months for max profit potential.

November 19, 2024

Global X Funds - Global X Solar Forecast

RAYS Global X Funds - Global X Solar

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Correlated Assets

Assets that tend to move strongly with RAYS

CSIQ Canadian Solar (0.82)

DQ Daqo New Energy (0.81)

BIDU Baidu (0.81)

CRSR Corsair Gaming (0.8)

FIVE Five Below (0.79)

Uncorrelated Assets

Assets with little price relationship to RAYS

SUM Summit Materials (-0.0)

QRVO Qorvo (0.0)

FMC FMC (-0.01)

TWO Two Harbors Investment (-0.01)

TSAT Telesat Corp (0.02)

Anticorrelated Assets

Assets that tend to move strongly against RAYS

UTI Universal Technical Institute (-0.69)

PGR Progressive (-0.7)

FTAI Fortress Transportation and Infrastructure Investors (-0.7)

PG Procter & Gamble (-0.71)

GDDY Godaddy (-0.72)

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* Disclaimer: Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Helium Trades is not responsible in any way for the accuracy of any model predictions or price data. Any mention of a particular security and related prediction data is not a recommendation to buy or sell that security. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. Helium Trades is not responsible for any of your investment decisions, you should consult a financial expert before engaging in any transaction.