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SPDR S&P 500 ETF price ended on $421.95 on Thursday after losing 0%

StockInvest.us, 3 months ago

StockInvest.us

No changes to the price of SPDR S&P 500 ETF on the last trading day (Thursday, 24th Feb 2022). During the day the ETF fluctuated 0% from a day low at $421.95 to a day high of $421.95. The price has fallen in 7 of the last 10 days and is down by -7.78% for this period.

The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $419.26 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the ETF is expected to fall -6.69% during the next 3 months and, with a 90% probability hold a price between $391.21 and $427.66 at the end of this 3-month period.

SPDR S&P 500 ETF

A buy signal was issued from a pivot bottom point on Wednesday, February 23, 2022, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR S&P 500 ETF holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $433.92 and $448.27. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had a daily average volatility of 1.80%

SPDR S&P 500 holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Check full SPDR S&P 500 ETF forecast and analysis here.