Crypto And Artificial Intelligence: Like Peanut Butter And Jelly? 3 Reasons These Technologies Are A Match Made In Heaven.
Portfolio Pulse from Johnny Rice
The article discusses the synergy between blockchain technology and artificial intelligence (AI), highlighting three areas where they complement each other: authenticity, speed, and smarter smart contracts. It also provides investment advice, suggesting that ETFs, particularly leveraged ETFs like Direxion Daily Robotics, Artificial Intelligence & Automation Index Bull 2X Shares (UBOT), are good vehicles for investing in AI. UBOT tracks the Indxx Global Robotics and Artificial Intelligence Thematic Index and aims for double the index's daily return. However, it is noted that leveraged ETFs should be used for trading rather than long-term investment. UBOT has recently shown bullish signs, trading above key moving averages and approaching a resistance level at $21.10.
January 11, 2024 | 4:58 pm
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UBOT, a leveraged ETF tracking the Indxx Global Robotics and AI Thematic Index, is bullish, trading above key EMAs and the 200-day SMA. It's approaching a resistance level at $21.10, having risen 14% since Friday without a higher low confirmation of a new uptrend.
UBOT's recent performance, including trading above the eight-day and 21-day EMAs and regaining the 200-day SMA, indicates a bullish cycle. The approach to the resistance level suggests potential for a local top, but the lack of a higher low means a new uptrend isn't yet confirmed. Given the positive momentum and the specific mention of UBOT's performance, the short-term impact is likely to be positive, but investors should be cautious due to the inherent volatility of leveraged ETFs.
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