Spear Alpha ETF Forecast
Spear Alpha ETF price ended at $23.78 on Tuesday, after gaining 0.253%.
(Updated on Jul 02, 2024)
The Spear Alpha ETF price gained 0.253% on the last trading day (Tuesday, 2nd Jul 2024), rising from $23.72 to $23.78. It has now gained 4 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 1.28% from a day low at $23.50 to a day high of $23.80. The price has been going up and down for this period, and there has been a 2.68% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately $678.47 thousand.
The ETF has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $23.75, a level that may pose a second chance to hit a runner. According to fan-theory $25.78 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SPRX Signals & Forecast
Mostly positive signals in the chart today. The Spear Alpha 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 $23.32 and $22.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 9.18%. 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). Spear Alpha has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Spear Alpha ETF
Spear Alpha finds support from accumulated volume at $23.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.300 (1.28%) between high and low. For the last week, the ETF has had daily average volatility of 1.77%.
Our recommended stop-loss: $22.63 (-4.85%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (SPRX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Spear Alpha ETF to open at $23.69, and during the day (based on 14 day Average True Range), to move between $23.36 and $24.20, which gives a possible trading interval of +/-$0.418 (+/-1.76%) up or down from last closing price. If Spear Alpha ETF takes out the full calculated possible swing range there will be an estimated 3.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $23.16, some $0.620 (2.61%) from the current price of $23.78, our system finds the risk reward attractive.
Is Spear Alpha ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Spear Alpha ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back.
Current score: 3.100 Buy Candidate Unchanged
Predicted Opening Price for Spear Alpha ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $23.69 ( 0.364%) | $23.78 |
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 | |
|---|---|---|
| R3 | 23.99 | 0.90% |
| R2 | 23.88 | 0.415% |
| R1 | 23.81 | 0.117% |
| Price | 23.78 | |
| S1 | 23.58 | -0.85% |
| S2 | 23.51 | -1.14% |
| S3 | 23.39 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 23.78 | |
| S1 | 23.16 | -2.61% |
| S2 | 22.63 | -4.84% |
| S3 | 20.99 | -11.73% |
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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