SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF Forecast
SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF price fell by -1.00% on the last day (Tuesday, 25th Jun 2024) from $119.96 to $118.76. During the last trading day the ETF fluctuated 0.93% from a day low at $118.59 to a day high of $119.69. The price has been going up and down for this period, and there has been a -0.13% loss for the last 2 weeks. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 18 thousand shares were bought and sold for approximately $2.10 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF with a 90% probability to be traded between $113.48 and $118.94 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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ONEV Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.02%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR RUSSELL 1000 LOW VOLATILITY FOCUS 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 $119.27 and $119.68. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF
SPDR RUSSELL 1000 LOW VOLATILITY FOCUS finds support from accumulated volume at $117.69 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 $1.10 between high and low, or 0.93%. For the last week the ETF has had daily average volatility of 0.634%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONEV) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF to open at $119.01, and during the day (based on 14 day Average True Range), to move between $117.75 and $119.77, which gives a possible trading interval of +/-$1.01 (+/-0.85%) up or down from last closing price. If SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $117.69 (0.90%) than the resistance at $122.18 (2.88%), 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 RUSSELL 1000 LOW VOLATILITY FOCUS ETF ETF A Buy?
SPDR RUSSELL 1000 LOW VOLATILITY FOCUS holds several negative signals and is within a narrow and falling trend, so we believe 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: -2.933 Sell Candidate Downgraded
Predicted Opening Price for SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $119.01 ( 0.213%) | $118.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONEV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 120.11 | 1.14% |
| R2 | 119.69 | 0.786% |
| R1 | 119.43 | 0.567% |
| Price | 118.76 | |
| S1 | 118.59 | -0.141% |
| S2 | 118.33 | -0.359% |
| S3 | 117.91 | -0.713% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 124.18 | 4.56% |
| R2 | 122.36 | 3.03% |
| R1 | 122.18 | 2.88% |
| Price | 118.76 | |
| S1 | 117.69 | -0.90% |
| S2 | 117.56 | -1.01% |
| S3 | 117.17 | -1.34% |
ONEV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.459 | 0.374% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.650 | 0.573% |
| 3 | Jan 13, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.477 | 0.452% |
| 4 | Jan 13, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.499 | 0.476% |
| 5 | Jan 13, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.421 | 0.419% |
FAQ
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