SPDR S&P 600 Small Cap Growth ETF Forecast
SPDR S&P 600 Small Cap Growth ETF price ended at $85.40 on Friday, after gaining 0.93%.
(Updated on May 03, 2024)
The SPDR S&P 600 Small Cap Growth ETF price gained 0.93% on the last trading day (Friday, 3rd May 2024), rising from $84.61 to $85.40. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.17% from a day low at $84.97 to a day high of $85.96. The price has risen in 7 of the last 10 days and is up by 4.55% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 108 thousand shares were bought and sold for approximately $9.23 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 S&P 600 Small Cap Growth ETF with a 90% probability to be traded between $81.72 and $87.82 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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SLYG Signals & Forecast
Mostly positive signals in the chart today. The SPDR S&P 600 Small Cap Growth ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $84.16 and $84.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.11%. 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.
Support, Risk & Stop-loss for SPDR S&P 600 Small Cap Growth ETF
SPDR S&P 600 Small Cap Growth finds support from accumulated volume at $85.34 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 $0.99 between high and low, or 1.17%. For the last week the ETF has had daily average volatility of 1.37%.
Our recommended stop-loss: $81.78 (-4.24%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (SLYG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SPDR S&P 600 Small Cap Growth ETF to open at $85.44, and during the day (based on 14 day Average True Range), to move between $84.06 and $86.74, which gives a possible trading interval of +/-$1.34 (+/-1.57%) up or down from last closing price. If SPDR S&P 600 Small Cap Growth ETF takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $85.34 (0.07%) than the resistance at $85.47 (0.08%), 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 S&P 600 Small Cap Growth ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for SPDR S&P 600 Small Cap Growth ETF to perform well in the short-term period.
Current score: 1.337 Buy Candidate Unchanged
Predicted Opening Price for SPDR S&P 600 Small Cap Growth ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $85.44 ( 0.0521%) | $85.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLYG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.44 | 1.22 % | |
| R2 | 86.06 | 0.771 % | ||
| R1 | 85.82 | 0.497 % | ||
| Current price: | 85.40 | |||
| Support | S1 | 85.06 | -0.392 % | |
| S2 | 84.83 | -0.667 % | ||
| S3 | 84.45 | -1.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.70 | 1.52 % | |
| R2 | 86.30 | 1.05 % | ||
| R1 | 85.47 | 0.0820 % | ||
| Current price | 85.40 | |||
| Support | S1 | 85.34 | -0.0703% | |
| S2 | 83.47 | -2.26% | ||
| S3 | 81.68 | -4.36% |
SLYG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.185 | 0.214% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.271 | 0.332% |
| 3 | Jan 13, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.233 | 0.319% |
| 4 | Jan 13, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.278 | 0.376% |
| 5 | Jan 13, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.203 | 0.287% |
FAQ
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