SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF Forecast
SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF price fell by -0.0008% on the last day (Friday, 28th Jun 2024) from $118.12 to $118.12. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.553% from a day low at $117.87 to a day high of $118.53. The price has fallen in 6 of the last 10 days and is down by -0.88% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -4 thousand shares and in total, 5 thousand shares were bought and sold for approximately $633.71 thousand.
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 $114.42 and $119.73 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
There are mixed signals in the ETF today. 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 $118.90 and $119.57. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 0.477%. 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).
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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.652 between high and low, or 0.553%. For the last week the ETF has had daily average volatility of 0.607%
Our recommended stop-loss: $111.03 (-6.00%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (ONEV) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF to open at $118.17, and during the day (based on 14 day Average True Range), to move between $117.19 and $119.05, which gives a possible trading interval of +/-$0.93 (+/-0.79%) 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 1.58% 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 (0.36%) than the resistance at $122.18 (3.44%), 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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.999 Hold/Accumulate Upgraded
Predicted Opening Price for SPDR RUSSELL 1000 LOW VOLATILITY FOCUS ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $118.17 ( 0.0452%) | $118.12 |
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 | 118.82 | 0.597% |
| R2 | 118.58 | 0.386% |
| R1 | 118.42 | 0.256% |
| Price | 118.12 | |
| S1 | 117.92 | -0.166% |
| S2 | 117.77 | -0.296% |
| S3 | 117.52 | -0.507% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 122.45 | 3.67% |
| R2 | 122.36 | 3.59% |
| R1 | 122.18 | 3.44% |
| Price | 118.12 | |
| S1 | 117.69 | -0.363% |
| S2 | 117.56 | -0.475% |
| S3 | 117.17 | -0.80% |
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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