ProShares S&P 500 ex-Energy ETF Forecast
ProShares S&P 500 ex-Energy ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)
The ProShares S&P 500 ex-Energy ETF price gained 0.188% on the last trading day (Thursday, 27th Jun 2024), rising from $58.53 to $58.64. During the last trading day the ETF fluctuated 0% from a day low at $58.64 to a day high of $58.64. The price has fallen in 5 of the last 10 days but is still up by 0.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 301 more shares were traded than the day before. In total, 301 shares were bought and sold for approximately $17.65 thousand.
The ETF lies in the middle of a very 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 -27.73% during the next 3 months and, with a 90% probability hold a price between $21.03 and $59.70 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SPXE Signals & Forecast
The ProShares S&P 500 ex-Energy 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 $58.70. On a fall, the ETF will find some support from the long-term average at approximately $57.21. 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.39%. 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). ProShares S&P 500 ex-Energy 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ProShares S&P 500 ex-Energy ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $55.67 and $55.10. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, ProShares S&P 500 ex-Energy finds support just below today's level at $55.67. If this is broken, then the next support from accumulated volume will be at $55.10 and $53.90.
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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0376%.
Our recommended stop-loss: $56.62 (-3.44%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 67 days ago.)
Trading Expectations (SPXE) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect ProShares S&P 500 ex-Energy ETF to open at $58.64, and during the day (based on 14 day Average True Range), to move between $58.27 and $59.01, which gives a possible trading interval of +/-$0.366 (+/-0.62%) up or down from last closing price. If ProShares S&P 500 ex-Energy ETF takes out the full calculated possible swing range there will be an estimated 1.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.82 (0.31%) than the support at $55.67 (5.06%), 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 ProShares S&P 500 ex-Energy ETF ETF A Buy?
ProShares S&P 500 ex-Energy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for ProShares S&P 500 ex-Energy ETF of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$58.64 ( 0.00000000%) | $58.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPXE
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 58.64 | 0.00000000% |
R2 | 58.64 | 0.00000000% |
R1 | 58.64 | 0.00000000% |
Price | 58.64 | |
S1 | 58.64 | 0.00000000% |
S2 | 58.64 | 0.00000000% |
S3 | 58.64 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 58.99 | 0.594% |
R2 | 58.96 | 0.553% |
R1 | 58.82 | 0.307% |
Price | 58.64 | |
S1 | 55.67 | -5.06% |
S2 | 55.10 | -6.04% |
S3 | 53.90 | -8.08% |
SPXE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.277 | 0.494% |
2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.417 | 0.83% |
3 | Jan 06, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.340 | 0.752% |
4 | Jan 06, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.294 | 0.631% |
5 | Jan 06, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.263 | 0.616% |
FAQ
Click here for our free guide on how to buy ProShares S&P 500 ex-Energy ETF ETF.