Spdr Russell 2000 Us Small Cap Ucits Etf ETF Forecast
Stronger technical forecast for Spdr Russell 2000 Us Small Cap Ucits Etf ETF price after Tuesday trading.
(Updated on Jun 25, 2024)
The Spdr Russell 2000 Us Small Cap Ucits Etf ETF price gained 0.139% on the last trading day (Tuesday, 25th Jun 2024), rising from $57.75 to $57.83. During the last trading day the ETF fluctuated 0.92% from a day low at $57.83 to a day high of $58.36. The price has fallen in 6 of the last 10 days and is down by -0.29% for this period. Volume fell on the last day by -148 thousand shares and in total, 28 thousand shares were bought and sold for approximately $1.65 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spdr Russell 2000 Us Small Cap Ucits Etf ETF with a 90% probability to be traded between $55.98 and $60.67 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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R2US.L Signals & Forecast
There are mixed signals in the ETF today. The Spdr Russell 2000 Us Small Cap Ucits Etf ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $58.79. On a fall, the ETF will find some support from the short-term average at $57.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Spdr Russell 2000 Us Small Cap Ucits Etf ETF
Spdr Russell 2000 Us Small Cap Ucits Etf finds support from accumulated volume at $57.75 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 $0.530 between high and low, or 0.92%. For the last week the ETF has had daily average volatility of 0.747%.
Our recommended stop-loss: $54.70 (-5.40%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (R2US.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Spdr Russell 2000 Us Small Cap Ucits Etf to open at $58.01, and during the day (based on 14 day Average True Range), to move between $56.98 and $58.68, which gives a possible trading interval of +/-$0.85 (+/-1.47%) up or down from last closing price. If Spdr Russell 2000 Us Small Cap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.75 (0.14%) than the resistance at $58.33 (0.86%), 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 2000 Us Small Cap Ucits Etf ETF A Buy?
Spdr Russell 2000 Us Small Cap Ucits Etf 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: 0.775 Hold/Accumulate Upgraded
Predicted Opening Price for Spdr Russell 2000 Us Small Cap Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $58.01 ( 0.305%) | $57.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for R2US.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.54 | 1.22% |
| R2 | 58.33 | 0.87% |
| R1 | 58.21 | 0.656% |
| Price | 57.83 | |
| S1 | 57.80 | -0.0446% |
| S2 | 57.68 | -0.261% |
| S3 | 57.48 | -0.611% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.17 | 2.32% |
| R2 | 58.74 | 1.57% |
| R1 | 58.33 | 0.86% |
| Price | 57.83 | |
| S1 | 57.75 | -0.138% |
| S2 | 56.85 | -1.69% |
| S3 | 56.27 | -2.70% |
FAQ
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