Spdr S&p 400 Us Mid Cap Ucits Etf ETF Forecast
Spdr S&p 400 Us Mid Cap Ucits Etf ETF downgraded to Sell Candidate
(Updated on Jun 26, 2024)
The Spdr S&p 400 Us Mid Cap Ucits Etf ETF price fell by -0.225% on the last day (Wednesday, 26th Jun 2024) from $89.07 to $88.87. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.88% from a day low at $88.61 to a day high of $89.39. The price has fallen in 6 of the last 10 days but is still up by 0.25% over the past 2 weeks. Volume has increased on the last day by 2 thousand 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, 14 thousand shares were bought and sold for approximately $1.23 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spdr S&p 400 Us Mid Cap Ucits Etf ETF with a 90% probability to be traded between $86.24 and $92.45 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SPY4.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.646%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Spdr S&p 400 Us Mid Cap Ucits Etf 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 $89.08 and $90.34. A break-up above any of these levels will issue buy signals. Spdr S&p 400 Us Mid Cap Ucits Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Spdr S&p 400 Us Mid Cap Ucits Etf ETF
Spdr S&p 400 Us Mid Cap Ucits Etf finds support from accumulated volume at $88.30 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 $0.783 between high and low, or 0.88%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SPY4.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Spdr S&p 400 Us Mid Cap Ucits Etf to open at $88.96, and during the day (based on 14 day Average True Range), to move between $87.82 and $89.92, which gives a possible trading interval of +/-$1.05 (+/-1.18%) up or down from last closing price. If Spdr S&p 400 Us Mid Cap Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $88.30 (0.64%) than the resistance at $91.32 (2.76%), 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 400 Us Mid Cap Ucits Etf ETF A Buy?
Spdr S&p 400 Us Mid Cap Ucits Etf holds several negative signals and is within a 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. 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: -1.451 Sell Candidate Downgraded
Predicted Opening Price for Spdr S&p 400 Us Mid Cap Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $88.96 ( 0.0964%) | $88.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPY4.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 89.74 | 0.98% |
| R2 | 89.44 | 0.641% |
| R1 | 89.25 | 0.433% |
| Price | 88.87 | |
| S1 | 88.66 | -0.240% |
| S2 | 88.47 | -0.448% |
| S3 | 88.17 | -0.785% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.84 | 4.47% |
| R2 | 91.87 | 3.38% |
| R1 | 91.32 | 2.76% |
| Price | 88.87 | |
| S1 | 88.30 | -0.641% |
| S2 | 87.01 | -2.09% |
| S3 | 86.57 | -2.59% |
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