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AI Analysis of SPY
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SPY ETF downgraded to Sell Candidate
(Updated on Apr 12, 2024)

Sell candidate since Apr 12, 2024 PDF

The SPY ETF price fell by -1.38% on the last day (Friday, 12th Apr 2024) from $518.00 to $510.84. During the last trading day the ETF fluctuated 1.32% from a day low at $509.08 to a day high of $515.81. The price has been going up and down for this period, and there has been a -2.34% loss for the last 2 weeks. Volume has increased on the last day by 24 million 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, 87 million shares were bought and sold for approximately $44.51 billion.

Given the current short-term trend, the ETF is expected to rise 8.88% during the next 3 months and, with a 90% probability hold a price between $556.18 and $578.10 at the end of this 3-month period.

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SPY Signals & Forecast

There are few to no technical positive signals at the moment. The SPY ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $516.07 and $514.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -2.35%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for SPY ETF

SPY finds support from accumulated volume at $494.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $6.73 between high and low, or 1.32%. For the last week the ETF has had daily average volatility of 1.05%.

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

Trading Expectations (SPY) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect SPDR S&P 500 ETF to open at $511.91, and during the day (based on 14 day Average True Range), to move between $505.44 and $516.24, which gives a possible trading interval of +/-$5.40 (+/-1.06%) 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 2.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $513.12 (0.45%) than the support at $494.08 (3.28%), 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 SPDR S&P 500 ETF ETF A Buy?

The SPY ETF holds several negative signals and despite the positive trend, we believe SPY will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -4.505 Sell Candidate Downgraded

Predicted Opening Price for SPDR S&P 500 ETF of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$511.91 ( 0.209%) $510.84

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

Trading levels for SPY

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 518.64 1.53 %
R2 516.07 1.02 %
R1 514.48 0.713 %
Current price: 510.84
Support S1 509.34 -0.294 %
S2 507.75 -0.605 %
S3 505.18 -1.11 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 523.07 2.39 %
R2 514.95 0.80 %
R1 513.12 0.446 %
Current price 510.84
Support S1 494.08 -3.28%
S2 482.91 -5.47%
S3 482.43 -5.56%

SPY Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 15, 2024 Mar 15, 2024 Apr 30, 2024 $1.59 0.308%
2 Dec 15, 2023 Dec 15, 2023 Dec 15, 2023 $1.91 0.406%
3 Jan 19, 2023 Sep 15, 2023 Oct 31, 2023 $1.58 0.379%
4 Jan 19, 2023 Jun 16, 2023 Jul 31, 2023 $1.64 0.358%
5 Jan 19, 2023 Mar 17, 2023 Apr 28, 2023 $1.51 0.362%

FAQ

What is the symbol for SPY ETF and on which exchange is it traded?
The symbol for SPY is SPY and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell SPY ETF?
The SPY ETF holds several negative signals and despite the positive trend, we believe SPY will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

How to buy SPY ETF?
SPY ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy SPY ETF.

What's the current price of SPY ETF?
As of the end of day on the 2024-04-12, the price of an SPY (SPY) share was $510.84.

What is the 52-week high and low for SPY ETF?
The 52-week high for SPY ETF is $524.61 and the 52-week low is $403.74.

What is the market capitalization of SPY ETF?
As of the 2024-04-12, the market capitalization of SPY is 468.849B.
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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.... SPY Profile

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