SPDR Portfolio Mortgage Backed Bond ETF Forecast
SPDR Portfolio Mortgage Backed Bond ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The SPDR Portfolio Mortgage Backed Bond ETF price gained 0.238% on the last trading day (Friday, 26th Apr 2024), rising from $21.01 to $21.06. During the last trading day the ETF fluctuated 0.285% from a day low at $21.03 to a day high of $21.09. The price has fallen in 5 of the last 10 days and is down by -0.89% for this period. Volume fell on the last day by -2 million shares and in total, 622 thousand shares were bought and sold for approximately $13.10 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 lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -2.89% during the next 3 months and, with a 90% probability hold a price between $20.28 and $20.93 at the end of this 3-month period. 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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SPMB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.429%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR Portfolio Mortgage Backed Bond ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $21.07 and $21.42. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR Portfolio Mortgage Backed Bond ETF
SPDR Portfolio Mortgage Backed Bond finds support from accumulated volume at $21.01 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 $0.0600 between high and low, or 0.285%. For the last week the ETF has had daily average volatility of 0.392%.
Our recommended stop-loss: $19.86 (-5.68%) (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 (SPMB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect SPDR Portfolio Mortgage Backed Bond ETF to open at $21.06, and during the day (based on 14 day Average True Range), to move between $20.94 and $21.18, which gives a possible trading interval of +/-$0.119 (+/-0.56%) up or down from last closing price. If SPDR Portfolio Mortgage Backed Bond ETF takes out the full calculated possible swing range there will be an estimated 1.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.01 (0.24%) than the resistance at $21.52 (2.18%), 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 Portfolio Mortgage Backed Bond ETF ETF A Buy?
SPDR Portfolio Mortgage Backed Bond holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.636 Hold/Accumulate Upgraded
Predicted Opening Price for SPDR Portfolio Mortgage Backed Bond ETF of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$21.06 ( 0.00000000%) | $21.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPMB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.12 | 0.285 % | |
R2 | 21.10 | 0.176 % | ||
R1 | 21.08 | 0.109 % | ||
Current price: | 21.06 | |||
Support | S1 | 21.04 | -0.109 % | |
S2 | 21.02 | -0.176 % | ||
S3 | 21.00 | -0.285 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.63 | 2.71 % | |
R2 | 21.56 | 2.37 % | ||
R1 | 21.52 | 2.18 % | ||
Current price | 21.06 | |||
Support | S1 | 21.01 | -0.237% | |
S2 | 20.97 | -0.427% | ||
S3 | 0 | . |
SPMB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 02, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.0631 | 0.295% |
2 | Jan 02, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.0649 | 0.298% |
3 | Jan 02, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.0621 | 0.286% |
4 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0610 | 0.279% |
5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.0610 | 0.284% |
FAQ
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