XLE ETF Forecast
Red day on Friday for XLE ETF after losing 0.94%
(Updated on Apr 26, 2024)
The XLE ETF price fell by -0.94% on the last day (Friday, 26th Apr 2024) from $96.65 to $95.74. During the last trading day the ETF fluctuated 1.43% from a day low at $94.76 to a day high of $96.12. The price has been going up and down for this period, and there has been a -0.41% loss for the last 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately $1.52 billion.
The ETF lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $95.42 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 18.95% during the next 3 months and, with a 90% probability hold a price between $113.50 and $121.33 at the end of this 3-month period.
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XLE Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The XLE ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $95.59 and $94.18. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for XLE ETF
XLE finds support from accumulated volume at $95.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.35 between high and low, or 1.43%. For the last week the ETF has had daily average volatility of 1.74%.
Our recommended stop-loss: $92.43 (-3.46%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (XLE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Energy Select Sector SPDR Fund to open at $95.54, and during the day (based on 14 day Average True Range), to move between $94.17 and $97.31, which gives a possible trading interval of +/-$1.57 (+/-1.64%) up or down from last closing price. If Energy Select Sector SPDR Fund takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $96.13 (0.41%) than the support at $95.23 (0.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Energy Select Sector SPDR Fund ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for XLE ETF to perform well in the short-term.
Current score: 1.351 Buy Candidate Unchanged
Predicted Opening Price for Energy Select Sector SPDR Fund of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$95.54 ( 0.211%) | $95.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 96.89 | 1.20 % | |
R2 | 96.38 | 0.664 % | ||
R1 | 96.06 | 0.330 % | ||
Current price: | 95.74 | |||
Support | S1 | 95.02 | -0.751 % | |
S2 | 94.70 | -1.09 % | ||
S3 | 94.18 | -1.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 97.79 | 2.14 % | |
R2 | 97.65 | 1.99 % | ||
R1 | 96.13 | 0.407 % | ||
Current price | 95.74 | |||
Support | S1 | 95.23 | -0.533% | |
S2 | 83.40 | -12.89% | ||
S3 | 83.31 | -12.98% |
XLE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.734 | 0.793% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.80 | 0.95% |
3 | Jan 13, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.674 | 0.756% |
4 | Jan 13, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.706 | 0.91% |
5 | Jan 13, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.795 | 1.02% |
FAQ
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