SPDR Nuveen Bloomberg Barclays High ETF Forecast

Weaker technical forecast for SPDR Nuveen Bloomberg Barclays High as ETF downgraded to Sell Candidate.
(Updated on Apr 29, 2024)

HYMB Signals & Forecast

There are mixed signals in the ETF today. The SPDR Nuveen Bloomberg Barclays High ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $25.22 and $25.42. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 0.239%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for SPDR Nuveen Bloomberg Barclays High ETF

SPDR Nuveen Bloomberg Barclays High finds support from accumulated volume at $25.17 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 $0.0500 between high and low, or 0.199%. For the last week the ETF has had daily average volatility of 0.365%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HYMB) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF to open at $25.19, and during the day (based on 14 day Average True Range), to move between $25.08 and $25.30, which gives a possible trading interval of +/-$0.110 (+/-0.44%) up or down from last closing price. If SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF takes out the full calculated possible swing range there will be an estimated 0.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $25.17 (0.08%) than the resistance at $25.22 (0.12%), 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 Nuveen Bloomberg Barclays High Yield Municipal Bond ETF ETF A Buy?

SPDR Nuveen Bloomberg Barclays High holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.683 Sell Candidate Downgraded

Predicted Opening Price for SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF of Tuesday, April 30, 2024

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