SPDR Dow Jones Industrial Average ETF Forecast
SPDR Dow Jones Industrial Average ETF upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The SPDR Dow Jones Industrial Average ETF price gained 0.0503% on the last trading day (Thursday, 28th Mar 2024), rising from $397.56 to $397.76. During the last trading day the ETF fluctuated 0.382% from a day low at $397.04 to a day high of $398.56. The price has risen in 6 of the last 10 days and is up by 1.97% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $1.25 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $399.42 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.48% during the next 3 months and, with a 90% probability hold a price between $411.11 and $421.32 at the end of this 3-month period.
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DIA Signals & Forecast
Mostly positive signals in the chart today. The SPDR Dow Jones Industrial Average 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 $395.48 and $389.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 1.24%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for SPDR Dow Jones Industrial Average ETF
SPDR Dow Jones Industrial Average finds support from accumulated volume at $380.07 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 $1.51 between high and low, or 0.382%. For the last week the ETF has had daily average volatility of 0.566%.
Our recommended stop-loss: $379.09 (-4.69%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (DIA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR Dow Jones Industrial Average ETF to open at $397.79, and during the day (based on 14 day Average True Range), to move between $394.64 and $400.88, which gives a possible trading interval of +/-$3.12 (+/-0.78%) up or down from last closing price. If SPDR Dow Jones Industrial Average ETF takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $380.07, some $17.69 (4.45%) from the current price of $397.76, our system finds the risk reward attractive.
Is SPDR Dow Jones Industrial Average ETF ETF A Buy?
SPDR Dow Jones Industrial Average holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.506 Strong Buy Candidate Upgraded
Predicted Opening Price for SPDR Dow Jones Industrial Average ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$397.79 ( 0.0063%) | $397.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 399.30 | 0.387 % | |
R2 | 398.72 | 0.242 % | ||
R1 | 398.36 | 0.152 % | ||
Current price: | 397.76 | |||
Support | S1 | 397.21 | -0.139 % | |
S2 | 396.85 | -0.229 % | ||
S3 | 396.27 | -0.375 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 397.76 | |||
Support | S1 | 380.07 | -4.45% | |
S2 | 377.09 | -5.20% | ||
S3 | 374.21 | -5.92% |
DIA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Apr 15, 2024 | $0.93 | 0.235% |
2 | Jan 02, 2024 | Feb 16, 2024 | Mar 11, 2024 | $0.612 | 0.158% |
3 | Jan 02, 2024 | Jan 19, 2024 | Feb 12, 2024 | $0.213 | 0.0548% |
4 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.83 | 0.224% |
5 | Nov 17, 2023 | Nov 17, 2023 | Nov 17, 2023 | $0.707 | 0.202% |
FAQ
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