SPDR S&P North American Natural ETF Forecast
Evaluation of SPDR S&P North American Natural ETF downgraded after the last trading session.
(Updated on Mar 28, 2024)
The SPDR S&P North American Natural ETF price gained 1.54% on the last trading day (Thursday, 28th Mar 2024), rising from $53.75 to $54.58. During the last trading day the ETF fluctuated 1.23% from a day low at $54.00 to a day high of $54.67. The price has risen in 7 of the last 10 days and is up by 4.72% 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, 8 thousand more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately $990.14 thousand.
The ETF has broken the weak 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 $51.54, a level that may pose a second chance to hit a runner.
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NANR Signals & Forecast
The SPDR S&P North American Natural 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 $53.32 and $50.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 16.08%. 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). SPDR S&P North American Natural 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.
Support, Risk & Stop-loss for SPDR S&P North American Natural ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $49.72 and $48.18. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SPDR S&P North American Natural finds support just below today's level at $49.72. If this is broken, then the next support from accumulated volume will be at $48.18 and $46.75.
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 $0.665 between high and low, or 1.23%. For the last week, the ETF has had daily average volatility of 1.11%.
The SPDR S&P North American Natural ETF is extremely overbought on RSI14 (83). 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: $52.76 (-3.34%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (NANR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR S&P North American Natural Resources ETF to open at $54.42, and during the day (based on 14 day Average True Range), to move between $53.95 and $55.21, which gives a possible trading interval of +/-$0.625 (+/-1.15%) up or down from last closing price. If SPDR S&P North American Natural Resources ETF takes out the full calculated possible swing range there will be an estimated 2.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $49.72, some $4.86 (8.90%) from the current price of $54.58, our system finds the risk reward attractive.
Is SPDR S&P North American Natural Resources ETF ETF A Buy?
SPDR S&P North American Natural 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for SPDR S&P North American Natural Resources ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$54.42 ( 0.302%) | $54.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NANR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.08 | 0.92 % | |
R2 | 54.83 | 0.451 % | ||
R1 | 54.67 | 0.163 % | ||
Current price: | 54.58 | |||
Support | S1 | 54.16 | -0.768 % | |
S2 | 54.00 | -1.06 % | ||
S3 | 53.75 | -1.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 54.58 | |||
Support | S1 | 49.72 | -8.90% | |
S2 | 48.18 | -11.73% | ||
S3 | 46.75 | -14.35% |
NANR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.717 | 1.42% |
2 | May 31, 2023 | Jun 01, 2023 | Jun 08, 2023 | $0.701 | 1.37% |
3 | Jan 18, 2022 | Dec 16, 2022 | Dec 23, 2022 | $0.96 | 1.76% |
4 | Jan 18, 2022 | Jun 01, 2022 | Jun 08, 2022 | $0.507 | 0.84% |
5 | Jan 28, 2021 | Dec 17, 2021 | Dec 27, 2021 | $0.708 | 1.61% |
FAQ
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