SPDR S&P China ETF Forecast
SPDR S&P China ETF price up 0.517% on Friday
(Updated on May 10, 2024)
The SPDR S&P China ETF price gained 0.517% on the last trading day (Friday, 10th May 2024), rising from $73.44 to $73.82. During the last trading day the ETF fluctuated 0.88% from a day low at $73.61 to a day high of $74.26. The price has risen in 7 of the last 10 days and is up by 6.31% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 21 thousand shares were bought and sold for approximately $1.56 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $72.30, a level that may pose a second chance to hit a runner. According to fan-theory $78.05 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GXC Signals & Forecast
Mostly positive signals in the chart today. The SPDR S&P China 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 $72.95 and $67.88. 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 14.43%. 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 S&P China ETF
SPDR S&P China finds support from accumulated volume at $72.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.650 between high and low, or 0.88%. For the last week, the ETF has had daily average volatility of 0.624%.
The SPDR S&P China ETF is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.
Our recommended stop-loss: $70.64 (-4.30%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (GXC) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect SPDR S&P China ETF to open at $73.90, and during the day (based on 14 day Average True Range), to move between $72.80 and $74.84, which gives a possible trading interval of +/-$1.02 (+/-1.38%) up or down from last closing price. If SPDR S&P China ETF takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $72.73, some $1.09 (1.48%) from the current price of $73.82, our system finds the risk reward attractive.
Is SPDR S&P China ETF ETF A Buy?
SPDR S&P China holds several positive signals and has broken the strong rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.178 Strong Buy Candidate Unchanged
Predicted Opening Price for SPDR S&P China ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $73.90 ( 0.104%) | $73.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GXC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.55 | 0.98 % | |
| R2 | 74.30 | 0.648 % | ||
| R1 | 74.14 | 0.440 % | ||
| Current price: | 73.82 | |||
| Support | S1 | 73.65 | -0.233 % | |
| S2 | 73.49 | -0.440 % | ||
| S3 | 73.25 | -0.777 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 73.82 | |||
| Support | S1 | 72.73 | -1.48% | |
| S2 | 71.97 | -2.51% | ||
| S3 | 66.80 | -9.51% |
GXC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $1.69 | 2.54% |
| 2 | Jan 26, 2023 | Jun 20, 2023 | Jun 27, 2023 | $0.83 | 1.11% |
| 3 | Jan 18, 2022 | Dec 20, 2022 | Dec 29, 2022 | $1.33 | 1.68% |
| 4 | Jan 18, 2022 | Jun 21, 2022 | Jun 28, 2022 | $0.763 | 0.83% |
| 5 | Dec 17, 2021 | Dec 20, 2021 | Dec 28, 2021 | $0.90 | 0.88% |
FAQ
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