SPDR SSGA GLOBAL ALLOCATION ETF Stock Forecast

Stronger technical forecast for SPDR SSGA GLOBAL ALLOCATION ETF stock price after Thursday trading.
(Updated on May 02, 2024)

GAL.L Signals & Forecast

The SPDR SSGA GLOBAL ALLOCATION ETF stock 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 stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £12.56. On a fall, the stock will find some support from the long-term average at approximately £11.60. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Friday, April 12, 2024, and so far it has fallen -16.67%. 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).

Support, Risk & Stop-loss for SPDR SSGA GLOBAL ALLOCATION ETF stock

SPDR SSGA GLOBAL ALLOCATION ETF finds support from accumulated volume at £12.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £0.299 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 6.30%.

Our recommended stop-loss: £11.70 (-6.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (GAL.L) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect SPDR SSGA GLOBAL ALLOCATION ETF to open at £12.60, and during the day (based on 14 day Average True Range), to move between £11.53 and £13.47, which gives a possible trading interval of +/-£0.97 (+/-7.74%) up or down from last closing price. If SPDR SSGA GLOBAL ALLOCATION ETF takes out the full calculated possible swing range there will be an estimated 15.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £12.10 (3.20%) than the resistance at £13.75 (10.00%), 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 SSGA GLOBAL ALLOCATION ETF stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR SSGA GLOBAL ALLOCATION ETF stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.241 Buy Candidate Upgraded

Predicted Opening Price for SPDR SSGA GLOBAL ALLOCATION ETF of Friday, May 3, 2024

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