SPDR Portfolio Corporate Bond ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
SPDR Portfolio Corporate Bond ETF downgraded to Sell Candidate
(Updated on May 24, 2024)
The SPDR Portfolio Corporate Bond ETF price gained 0.210% on the last trading day (Friday, 24th May 2024), rising from $28.61 to $28.67. During the last trading day the ETF fluctuated 0.280% from a day low at $28.59 to a day high of $28.67. The price has risen in 5 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -21 thousand shares and in total, 184 thousand shares were bought and sold for approximately $5.27 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 ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $28.75 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect SPDR Portfolio Corporate Bond ETF with a 90% probability to be traded between $27.39 and $28.23 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SPBO Signals & Forecast
The SPDR Portfolio Corporate Bond ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $28.70. On a fall, the ETF will find some support from the long-term average at approximately $28.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Wednesday, May 15, 2024, and so far it has fallen -0.486%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SPDR Portfolio Corporate Bond ETF
SPDR Portfolio Corporate Bond finds support from accumulated volume at $28.54 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 $0.0800 between high and low, or 0.280%. For the last week the ETF has had daily average volatility of 0.298%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPBO) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect SPDR Portfolio Corporate Bond ETF to open at $28.64, and during the day (based on 14 day Average True Range), to move between $28.55 and $28.79, which gives a possible trading interval of +/-$0.118 (+/-0.41%) up or down from last closing price. If SPDR Portfolio Corporate Bond ETF takes out the full calculated possible swing range there will be an estimated 0.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.69 (0.07%) than the support at $28.54 (0.45%), 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 Portfolio Corporate Bond ETF ETF A Buy?
SPDR Portfolio Corporate Bond holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.547 Sell Candidate Downgraded
Predicted Opening Price for SPDR Portfolio Corporate Bond ETF of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $28.64 ( 0.0930%) | $28.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPBO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.72 | 0.186 % | |
| R2 | 28.69 | 0.0794 % | ||
| R1 | 28.67 | 0.0136 % | ||
| Current price: | 28.67 | |||
| Support | S1 | 28.61 | -0.200 % | |
| S2 | 28.59 | -0.265 % | ||
| S3 | 28.56 | -0.372 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.80 | 0.453 % | |
| R2 | 28.79 | 0.419 % | ||
| R1 | 28.69 | 0.0698 % | ||
| Current price | 28.67 | |||
| Support | S1 | 28.54 | -0.453% | |
| S2 | 28.37 | -1.05% | ||
| S3 | 28.21 | -1.60% |
SPBO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.126 | 0.439% |
| 2 | Jan 02, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.126 | 0.438% |
| 3 | Jan 02, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.124 | 0.426% |
| 4 | Jan 02, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.128 | 0.441% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.123 | 0.421% |
FAQ
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