SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF Forecast
Stronger technical forecast for SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF price after Wednesday trading.
(Updated on Jul 03, 2024)
The SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF price gained 1.41% on the last trading day (Wednesday, 3rd Jul 2024), rising from $55.93 to $56.72. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.92% from a day low at $56.37 to a day high of $56.89. The price has risen in 6 of the last 10 days and is up by 3.2% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 85 thousand shares were bought and sold for approximately $4.81 million. 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 middle of a 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 -6.07% during the next 3 months and, with a 90% probability hold a price between $50.60 and $55.08 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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GNR Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.88%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES 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 $57.29. On a fall, the ETF will find some support from the short-term average at $55.98. 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. The ETF had a Golden Star Signal on Wednesday, December 13, 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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, December 13, 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 ETF in question.
Support, Risk & Stop-loss for SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF
SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES finds support from accumulated volume at $56.38 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 $0.520 between high and low, or 0.92%. For the last week the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: $54.18 (-4.48%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (GNR) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF to open at $56.66, and during the day (based on 14 day Average True Range), to move between $55.99 and $57.45, which gives a possible trading interval of +/-$0.728 (+/-1.28%) up or down from last closing price. If SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF takes out the full calculated possible swing range there will be an estimated 2.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $56.38 (0.60%) than the resistance at $58.86 (3.77%), 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(R) S&P(R) GLOBAL NATURAL RESOURCES ETF ETF A Buy?
SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES 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: -0.153 Hold/Accumulate Upgraded
Predicted Opening Price for SPDR(R) S&P(R) GLOBAL NATURAL RESOURCES ETF of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $56.66 ( 0.106%) | $56.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.18 | 0.81% |
| R2 | 56.98 | 0.461% |
| R1 | 56.86 | 0.244% |
| Price | 56.72 | |
| S1 | 56.46 | -0.456% |
| S2 | 56.34 | -0.672% |
| S3 | 56.14 | -1.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.69 | 5.24% |
| R2 | 59.68 | 5.22% |
| R1 | 58.86 | 3.77% |
| Price | 56.72 | |
| S1 | 56.38 | -0.599% |
| S2 | 55.91 | -1.43% |
| S3 | 55.85 | -1.53% |
GNR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.98 | 1.77% |
| 2 | May 31, 2023 | Jun 01, 2023 | Jun 08, 2023 | $0.93 | 1.71% |
| 3 | Jan 18, 2022 | Dec 16, 2022 | Dec 23, 2022 | $1.33 | 2.32% |
| 4 | Jan 18, 2022 | Jun 01, 2022 | Jun 08, 2022 | $1.17 | 1.86% |
| 5 | Jan 28, 2021 | Dec 17, 2021 | Dec 27, 2021 | $1.16 | 2.16% |
FAQ
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