Spear Alpha ETF Forecast
Spear Alpha ETF price down 1.05% on Wednesday
(Updated on May 01, 2024)
The Spear Alpha ETF price fell by -1.05% on the last day (Wednesday, 1st May 2024) from $21.95 to $21.72. During the last trading day the ETF fluctuated 3.86% from a day low at $21.50 to a day high of $22.33. The price has risen in 6 of the last 10 days and is up by 0.18% over the past 2 weeks. Volume has increased on the last day by 24 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 56 thousand shares were bought and sold for approximately $1.22 million.
The ETF lies in the middle of a wide 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 -12.50% during the next 3 months and, with a 90% probability hold a price between $17.99 and $19.89 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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SPRX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.48%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spear Alpha 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 $22.03 and $22.71. 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). Spear Alpha gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Spear Alpha ETF
Spear Alpha finds support from accumulated volume at $21.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.83 between high and low, or 3.86%. For the last week, the ETF has had daily average volatility of 2.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPRX) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Spear Alpha ETF to open at $21.85, and during the day (based on 14 day Average True Range), to move between $21.15 and $22.29, which gives a possible trading interval of +/-$0.575 (+/-2.65%) up or down from last closing price. If Spear Alpha ETF takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.68 (0.18%) than the resistance at $23.46 (8.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Spear Alpha ETF ETF A Buy?
Spear Alpha holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.858 Sell Candidate Unchanged
Predicted Opening Price for Spear Alpha ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $21.85 ( 0.599%) | $21.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.68 | 4.42 % | |
| R2 | 22.36 | 2.96 % | ||
| R1 | 22.17 | 2.06 % | ||
| Current price: | 21.72 | |||
| Support | S1 | 21.53 | -0.86 % | |
| S2 | 21.34 | -1.76 % | ||
| S3 | 21.02 | -3.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.21 | 16.07 % | |
| R2 | 24.42 | 12.43 % | ||
| R1 | 23.46 | 8.01 % | ||
| Current price | 21.72 | |||
| Support | S1 | 21.68 | -0.184% | |
| S2 | 21.21 | -2.35% | ||
| S3 | 20.99 | -3.36% |
SPRX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 21, 2021 | Dec 22, 2021 | Dec 27, 2021 | $0.0530 | 0.240% |
FAQ
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