Spdr Msci Europe Consumer Discretionary ETF Forecast
Spdr Msci Europe Consumer Discretionary ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)
No changes to the price of Spdr Msci Europe Consumer Discretionary ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at 177.83€ to a day high of 177.83€. The price has been going up and down for this period, and there has been a -1.03% loss for the last 2 weeks.
The ETF lies in the middle of a narrow 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 -2.98% during the next 3 months and, with a 90% probability hold a price between 167.81€ and 175.84€ at the end of this 3-month period. Do note, that if the stock 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.
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CDIS.L Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spdr Msci Europe Consumer Discretionary 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 stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 179.37€. On a fall, the ETF will find some support from the short-term average at 176.72€. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.
A buy signal from a double bottom formation was found on Wednesday, May 29, 2024 and based on theory for this formation the price should go up by 6.70% to 189.74€ within 20 trading days since signal was issued (Wednesday, June 26, 2024).
Support, Risk & Stop-loss for Spdr Msci Europe Consumer Discretionary ETF
Spdr Msci Europe Consumer Discretionary finds support from accumulated volume at 177.52€ 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 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 daily average volatility of 0.391%
Our recommended stop-loss: 170.43€ (-4.16%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (CDIS.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Spdr Msci Europe Consumer Discretionary Ucits Etf to open at 177.83€, and during the day (based on 14 day Average True Range), to move between 176.25€ and 179.41€, which gives a possible trading interval of +/-1.58€ (+/-0.89%) up or down from last closing price. If Spdr Msci Europe Consumer Discretionary Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 177.52€ (0.17%) than the resistance at 178.44€ (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spdr Msci Europe Consumer Discretionary Ucits Etf ETF A Buy?
Spdr Msci Europe Consumer Discretionary 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.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Spdr Msci Europe Consumer Discretionary Ucits Etf of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 177.83€ ( 0%) | 177.83€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CDIS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 177.83 | - |
| R2 | 177.83 | - |
| R1 | 177.83 | - |
| Price | 177.83 | |
| S1 | 177.83 | - |
| S2 | 177.83 | - |
| S3 | 177.83 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 183.25 | 3.05% |
| R2 | 179.61 | 1.00% |
| R1 | 178.44 | 0.343% |
| Price | 177.83 | |
| S1 | 177.52 | -0.174% |
| S2 | 176.64 | -0.669% |
| S3 | 176.14 | -0.95% |
FAQ
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