(HXQ) Global X NASDAQ-100 Index - Ratings and Ratios

The Global X NASDAQ-100 Index Corporate Class ETF CAD (HXQ) is designed to track the performance of the NASDAQ-100 Index, a benchmark that comprises 100 of the largest non-financial companies listed on the NASDAQ Stock Market, with a mix of domestic and international firms. By replicating the indexs total return, net of expenses, HXQ offers investors exposure to a diverse range of prominent technology and growth-oriented companies.

Given its underlying index, HXQs holdings are likely to be dominated by tech giants and innovative companies, which are driving growth in the US and global economies. The NASDAQ-100 Index has historically been a strong performer, driven by the success of its constituent companies in areas such as technology, healthcare, and consumer discretionary goods.

Analyzing the technical data, we can observe that HXQs price has been trending upwards, with its short-term and long-term moving averages indicating a bullish sentiment. The stock is currently trading above its 20-day, 50-day, and 200-day SMAs, suggesting a strong uptrend. The Average True Range (ATR) indicates moderate volatility, which is expected given the ETFs exposure to the tech-heavy NASDAQ-100 Index.

Combining technical and fundamental analysis, we can forecast that HXQ is likely to continue its upward trend, driven by the strong performance of its underlying holdings. With a relatively stable AUM of $680.05M CAD, the ETF appears to have a solid foundation for continued growth. As the NASDAQ-100 Index continues to be driven by the success of its constituent companies, we can expect HXQ to remain a strong performer in the US Equity category. Our forecast suggests that HXQ may reach a price target of $92.50 in the next 6-12 months, representing a potential upside of around 6% from current levels.

Its worth noting that investors should continue to monitor the ETFs performance, as well as the overall market conditions, to adjust their investment strategies accordingly. For more information on HXQ and its underlying index, investors can visit the Horizons ETFs website at http://www.HorizonsETFs.com.