SPY ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session

The SPY ETF price fell by -0.280% on the last day (Tuesday, 15th Apr 2025) from $539.12 to $537.61. During the last trading day the ETF fluctuated 1.22% from a day low at $536.81 to a day high of $543.36. The price has fallen in 6 of the last 10 days and is down by -4.16% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -12 million shares and in total, 55 million shares were bought and sold for approximately $29.83 billion.

The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the ETF is expected to fall -13.22% during the next 3 months and, with a 90% probability hold a price between $424.81 and $484.58 at the end of this 3-month period. Do note, that if the ETF price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

A buy signal was issued from a pivot bottom point on Tuesday, April 08, 2025, and so far it has risen 8.28%. 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 SPY ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the ETF. On further gains, the ETF will meet resistance from the long-term Moving Average at $558.08. On a fall, the ETF will find some support from the short-term average at $526.39. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

SPY finds support from accumulated volume at $524.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $6.55 between high and low, or 1.22%. For the last week, the ETF has had daily average volatility of 4.48%.

SPY holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.