SPDR S&P Regional Banking ETF Forecast
SPDR S&P Regional Banking ETF upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The SPDR S&P Regional Banking ETF price gained 1.29% on the last trading day (Friday, 3rd May 2024), rising from $49.02 to $49.65. 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 1.44% from a day low at $49.49 to a day high of $50.20. The price has risen in 6 of the last 10 days and is up by 4.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 15 million shares were bought and sold for approximately $740.65 million.
The ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $50.29 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect SPDR S&P Regional Banking ETF with a 90% probability to be traded between $45.78 and $50.30 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KRE Signals & Forecast
Mostly positive signals in the chart today. The SPDR S&P Regional Banking 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 $48.34 and $48.09. 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 8.50%. 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 S&P Regional Banking ETF
SPDR S&P Regional Banking finds support from accumulated volume at $49.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.715 (1.44%) between high and low. For the last week, the ETF has had daily average volatility of 2.04%.
Our recommended stop-loss: $47.45 (-4.43%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (KRE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SPDR S&P Regional Banking ETF to open at $49.78, and during the day (based on 14 day Average True Range), to move between $48.51 and $50.79, which gives a possible trading interval of +/-$1.14 (+/-2.29%) up or down from last closing price. If SPDR S&P Regional Banking ETF takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.46 (0.38%) than the resistance at $50.02 (0.75%), 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 S&P Regional Banking ETF ETF A Buy?
SPDR S&P Regional Banking holds several positive signals and is considered to be a good choice at current levels. We expect the SPDR S&P Regional Banking ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.466 Strong Buy Candidate Upgraded
Predicted Opening Price for SPDR S&P Regional Banking ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $49.78 ( 0.258%) | $49.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.49 | 1.70 % | |
| R2 | 50.22 | 1.15 % | ||
| R1 | 50.05 | 0.81 % | ||
| Current price: | 49.65 | |||
| Support | S1 | 49.51 | -0.292 % | |
| S2 | 49.34 | -0.631 % | ||
| S3 | 49.06 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 50.28 | 1.27 % | ||
| R1 | 50.02 | 0.745 % | ||
| Current price | 49.65 | |||
| Support | S1 | 49.46 | -0.383% | |
| S2 | 47.60 | -4.13% | ||
| S3 | 46.85 | -5.64% |
KRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.379 | 0.764% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.431 | 0.83% |
| 3 | Jan 19, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.375 | 0.91% |
| 4 | Jan 19, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.399 | 1.01% |
| 5 | Jan 19, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.363 | 0.86% |
FAQ
Click here for our free guide on how to buy SPDR S&P Regional Banking ETF ETF.
