SPDR S&P Dividend ETF Forecast

SPDR S&P Dividend ETF price ended at $132.46 on Friday, after gaining 0.242%.
(Updated on May 17, 2024)

SDY Signals & Forecast

Mostly positive signals in the chart today. The SPDR S&P Dividend 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 $131.63 and $128.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.31%. 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). 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. The ETF had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for SPDR S&P Dividend ETF

SPDR S&P Dividend finds support from accumulated volume at $131.33 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 $0.600 between high and low, or 0.455%. For the last week the ETF has had daily average volatility of 0.573%.

The SPDR S&P Dividend 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: $126.52 (-4.48%) (This ETF has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations (SDY) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect SPDR S&P Dividend ETF to open at $132.26, and during the day (based on 14 day Average True Range), to move between $131.47 and $133.45, which gives a possible trading interval of +/-$0.99 (+/-0.75%) up or down from last closing price. If SPDR S&P Dividend ETF takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $131.33, some $1.13 (0.85%) from the current price of $132.46, our system finds the risk reward attractive.

Is SPDR S&P Dividend ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR S&P Dividend ETF to perform well in the short-term.

Current score: 3.186 Buy Candidate Unchanged

Predicted Opening Price for SPDR S&P Dividend ETF of Monday, May 20, 2024

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