SPDR Straits Times Index ETF Stock Forecast

SPDR Straits Times Index ETF stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

ES3.SI Signals & Forecast

The SPDR Straits Times Index ETF stock 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 S$3.37 and S$3.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.78%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Wednesday, June 28, 2023 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 stock in question.

Support, Risk & Stop-loss for SPDR Straits Times Index ETF stock

SPDR Straits Times Index ETF finds support from accumulated volume at S$3.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock 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 stock During the last day, the stock moved S$0.0330 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 0.88%

The SPDR Straits Times Index ETF stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: S$3.23 (-4.71%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (ES3.SI) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect SPDR Straits Times Index ETF to open at S$3.38, and during the day (based on 14 day Average True Range), to move between S$3.34 and S$3.43, which gives a possible trading interval of +/-S$0.0415 (+/-1.23%) up or down from last closing price. If SPDR Straits Times Index ETF takes out the full calculated possible swing range there will be an estimated 2.45% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ S$3.29, some S$0.0930 (2.75%) from the current price of S$3.39, our system finds the risk reward attractive.

Is SPDR Straits Times Index ETF stock A Buy?

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR Straits Times Index ETF stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.966 Buy Candidate Upgraded

Predicted Opening Price for SPDR Straits Times Index ETF of Monday, May 20, 2024

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