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SPDR S&P 500 ETF Forecast


$415.26 (2.45%)

Volume: 84.693M

Closed: May 27, 2022

Hollow Logo Score: -1.783

SPDR S&P 500 ETF Forecast

$415.26 (2.45%)

Volume: 84.693M

Closed: May 27, 2022

Score Hollow Logo -1.783
Which way will SPY go? Request
Fri, May 27, 2022 Sell Candidate
* uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 61 and the ETF is currently not being overbought or oversold

SPDR S&P 500 ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 27, 2022)

Sell candidate since 2022-05-27 PDF

The SPDR S&P 500 ETF price gained 2.45% on the last trading day (Friday, 27th May 2022), rising from $405.31 to $415.26. , and 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 day the ETF fluctuated 1.88% from a day low at $407.70 to a day high of $415.38. The price has risen in 6 of the last 10 days and is up by 3.37% 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, 3 million more shares were traded than the day before. In total, 85 million shares were bought and sold for approximately $35.17 billion.

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 -9.52% during the next 3 months and, with a 90% probability hold a price between $348.47 and $390.24 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.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 19, 2022, and so far it has risen 6.62%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR S&P 500 ETF holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term moving average at $415.93. On a fall, the ETF will find some support from the short-term average at $398.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss

SPDR S&P 500 finds support from accumulated volume at $414.48 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 $7.68 between high and low, or 1.88%. For the last week, the ETF has had a daily average volatility of 1.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Tuesday 31st

For the upcoming trading day on Tuesday 31st we expect SPDR S&P 500 ETF to open at $412.78, and during day (based on 14 day Average True Range), to move between $404.91 and $425.61, which gives a possible trading interval of +/-$10.35 (+/-2.49%) up or down from last closing price. If SPDR S&P 500 ETF takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $414.48 (0.19%) than the resistance at $416.25 (0.24%), 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 S&P 500 ETF ETF A Buy?

SPDR S&P 500 holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.783

Sell Candidate Downgraded

Predicted Opening Price for SPDR S&P 500 ETF of Tuesday, May 31, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price May 31, 2022 Current price
$412.78 $415.26 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 420.46 1.25 %
417.53 0.55 %
415.71 0.11 %
Current price: 415.26
Support 409.85 -1.30 %
408.03 -1.74 %
405.10 -2.45 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 436.63 5.15 %
435.62 4.90 %
416.25 0.24 %
Current price 415.26
Support 414.48 -0.19%
413.81 -0.35%
398.17 -4.12%

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About SPDR S&P 500 ETF

The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the â??Portfolioâ?�), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.... Read more

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