SPDR SSGA INCOME ALLOCATION ETF Forecast
SPDR SSGA INCOME ALLOCATION ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The SPDR SSGA INCOME ALLOCATION ETF price gained 0.0326% on the last trading day (Friday, 28th Jun 2024), rising from $30.69 to $30.70. During the last trading day the ETF fluctuated 0.456% from a day low at $30.70 to a day high of $30.84. The price has been going up and down for this period, and there has been a -1.48% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 31 thousand more shares were traded than the day before. In total, 39 thousand shares were bought and sold for approximately $1.20 million.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $30.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SPDR SSGA INCOME ALLOCATION ETF with a 90% probability to be traded between $31.09 and $32.24 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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INKM Signals & Forecast
The SPDR SSGA INCOME ALLOCATION 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 $30.94 and $31.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.02%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. SPDR SSGA INCOME ALLOCATION has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The ETF had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.
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
The ETF had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.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 Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.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.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -1.04% to $30.38 within 26 trading days since signal was issued (Wednesday, July 31, 2024).
Support, Risk & Stop-loss for SPDR SSGA INCOME ALLOCATION ETF
SPDR SSGA INCOME ALLOCATION finds support from accumulated volume at $30.69 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 $0.140 between high and low, or 0.456%. For the last week the ETF has had daily average volatility of 0.321%.
Our recommended stop-loss: $29.38 (-4.30%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (INKM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR SSGA INCOME ALLOCATION ETF to open at $30.75, and during the day (based on 14 day Average True Range), to move between $30.55 and $30.85, which gives a possible trading interval of +/-$0.145 (+/-0.47%) up or down from last closing price. If SPDR SSGA INCOME ALLOCATION ETF takes out the full calculated possible swing range there will be an estimated 0.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.69 (0.03%) than the resistance at $30.90 (0.65%), 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 INCOME ALLOCATION ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.402 Buy Candidate Upgraded
Predicted Opening Price for SPDR SSGA INCOME ALLOCATION ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $30.75 ( 0.152%) | $30.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INKM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.89 | 0.608% |
| R2 | 30.83 | 0.434% |
| R1 | 30.80 | 0.326% |
| Price | 30.70 | |
| S1 | 30.69 | -0.0222% |
| S2 | 30.66 | -0.130% |
| S3 | 30.61 | -0.304% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.08 | 1.22% |
| R2 | 30.96 | 0.85% |
| R1 | 30.90 | 0.651% |
| Price | 30.70 | |
| S1 | 30.69 | -0.0326% |
| S2 | 30.58 | -0.388% |
| S3 | 30.45 | -0.81% |
INKM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2024 | Mar 19, 2024 | Mar 22, 2024 | $0.247 | 0.798% |
| 2 | Dec 19, 2023 | Dec 19, 2023 | Dec 19, 2023 | $0.410 | 1.32% |
| 3 | Jan 17, 2023 | Sep 19, 2023 | Sep 22, 2023 | $0.341 | 1.17% |
| 4 | Jan 17, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.423 | 1.42% |
| 5 | Jan 17, 2023 | Mar 21, 2023 | Mar 24, 2023 | $0.241 | 0.81% |
FAQ
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