ProShares S&P 500 ex-Financials ETF Forecast
Red day on Friday for ProShares S&P 500 ex-Financials ETF after losing 1.20%
(Updated on Apr 19, 2024)
The ProShares S&P 500 ex-Financials ETF price fell by -1.20% on the last day (Friday, 19th Apr 2024) from $54.03 to $53.38. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.175% from a day low at $53.29 to a day high of $53.38. The price has fallen in 6 of the last 10 days and is down by -52.29% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -1 thousand shares and in total, 1 thousand shares were bought and sold for approximately $74.20 thousand.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.37 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -21.64% during the next 3 months and, with a 90% probability hold a price between $41.03 and $82.98 at the end of this 3-month period.
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SPXN Signals & Forecast
There are few to no technical positive signals at the moment. The ProShares S&P 500 ex-Financials 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 $54.64 and $98.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -52.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ProShares S&P 500 ex-Financials ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF may move very much during the day (volatility) and with periodic low trading volume this ETF is considered to be "very high risk". During the last day, the ETF moved $0.0930 between high and low, or 0.175%. For the last week the ETF has had daily average volatility of 0.763%.
ProShares S&P 500 ex-Financials is oversold on RSI14 (3). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPXN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect ProShares S&P 500 ex-Financials ETF to open at $53.35, and during the day (based on 14 day Average True Range), to move between $50.32 and $56.44, which gives a possible trading interval of +/-$3.06 (+/-5.73%) up or down from last closing price. If ProShares S&P 500 ex-Financials ETF takes out the full calculated possible swing range there will be an estimated 11.46% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $55.33, some $1.95 (3.65%) from the current price of $53.38, our system finds the risk reward not very attractive.
Is ProShares S&P 500 ex-Financials ETF ETF A Buy?
ProShares S&P 500 ex-Financials holds several negative signals and is within a very 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: -5.400 Strong Sell Candidate Unchanged
Predicted Opening Price for ProShares S&P 500 ex-Financials ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $53.35 ( 0.0581%) | $53.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPXN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.44 | 0.116 % | |
| R2 | 53.41 | 0.0496 % | ||
| R1 | 53.38 | 0.0085 % | ||
| Current price: | 53.38 | |||
| Support | S1 | 53.31 | -0.125 % | |
| S2 | 53.29 | -0.166 % | ||
| S3 | 53.26 | -0.232 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.21 | 5.30 % | |
| R2 | 55.67 | 4.29 % | ||
| R1 | 55.33 | 3.65 % | ||
| Current price | 53.38 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SPXN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 27, 2024 | $0.283 | 0.502% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.396 | 0.784% |
| 3 | Jan 06, 2023 | Sep 20, 2023 | Sep 27, 2023 | $0.346 | 0.751% |
| 4 | Jan 06, 2023 | Jun 21, 2023 | Jun 28, 2023 | $0.193 | 0.409% |
| 5 | Jan 06, 2023 | Mar 22, 2023 | Mar 29, 2023 | $0.287 | 0.667% |
FAQ
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