SPDR Kensho Final Frontiers ETF Forecast

Red day on Wednesday for SPDR Kensho Final Frontiers ETF after losing 0%
(Updated on May 08, 2024)

ROKT Signals & Forecast

The SPDR Kensho Final Frontiers 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 $44.24 and $43.57. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -0.139%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, May 06, 2024 and based on theory for this formation the price should fall by -10.28% to $40.03 within 26 trading days since signal was issued (Thursday, May 09, 2024).

Support, Risk & Stop-loss for SPDR Kensho Final Frontiers ETF

SPDR Kensho Final Frontiers finds support from accumulated volume at $44.19 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.256%

The SPDR Kensho Final Frontiers ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $43.09 (-3.43%) (This ETF has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ROKT) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect SPDR Kensho Final Frontiers ETF to open at $44.62, and during the day (based on 14 day Average True Range), to move between $44.27 and $44.97, which gives a possible trading interval of +/-$0.349 (+/-0.78%) up or down from last closing price. If SPDR Kensho Final Frontiers ETF takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.68 (0.14%) than the support at $44.19 (0.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is SPDR Kensho Final Frontiers ETF ETF A Buy?

SPDR Kensho Final Frontiers 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.

Current score: 0.627 Hold/Accumulate Unchanged

Predicted Opening Price for SPDR Kensho Final Frontiers ETF of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.