SPDR Bloomberg Barclays Convertible ETF Forecast

SPDR Bloomberg Barclays Convertible ETF price ended at $71.67 on Friday, after gaining 0.182%.
(Updated on May 31, 2024)

CWB Signals & Forecast

The SPDR Bloomberg Barclays Convertible ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $71.93. On a fall, the ETF will find some support from the long-term average at approximately $71.28. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -1.55%. 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). The ETF had a Golden Star Signal on Friday, May 03, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for SPDR Bloomberg Barclays Convertible ETF

SPDR Bloomberg Barclays Convertible finds support from accumulated volume at $70.63 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 $0.700 between high and low, or 0.98%. For the last week the ETF has had daily average volatility of 0.609%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CWB) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect SPDR Bloomberg Barclays Convertible Securities ETF to open at $71.60, and during the day (based on 14 day Average True Range), to move between $71.16 and $72.18, which gives a possible trading interval of +/-$0.514 (+/-0.72%) up or down from last closing price. If SPDR Bloomberg Barclays Convertible Securities ETF takes out the full calculated possible swing range there will be an estimated 1.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $72.18 (0.71%) than the support at $70.63 (1.45%), 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 SPDR Bloomberg Barclays Convertible Securities ETF ETF A Buy?

SPDR Bloomberg Barclays Convertible holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -1.282 Sell Candidate Unchanged

Predicted Opening Price for SPDR Bloomberg Barclays Convertible Securities ETF of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.