SSgA SPDR ETFs Europe I Public Ltd Co - Stock Forecast

SSgA SPDR ETFs Europe I Public Ltd Co - stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)

SPY5.L Signals & Forecast

There are mixed signals in the stock today. The SSgA SPDR ETFs Europe I Public Ltd Co - stock 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 stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £514.44. On a fall, the stock will find some support from the short-term average at £503.35. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.39%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for SSgA SPDR ETFs Europe I Public Ltd Co - stock

SSgA SPDR ETFs Europe I Public Ltd Co - finds support from accumulated volume at £505.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £3.53 between high and low, or 0.696%. For the last week the stock has had daily average volatility of 0.84%.

Our recommended stop-loss: £484.27 (-4.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (SPY5.L) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect SSgA SPDR ETFs Europe I Public Limited Company - SPDR S&P 500 UCITS ETF to open at £509.15, and during the day (based on 14 day Average True Range), to move between £503.76 and £515.28, which gives a possible trading interval of +/-£5.76 (+/-1.13%) up or down from last closing price. If SSgA SPDR ETFs Europe I Public Limited Company - SPDR S&P 500 UCITS ETF takes out the full calculated possible swing range there will be an estimated 2.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £505.27 (0.83%) than the resistance at £515.81 (1.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SSgA SPDR ETFs Europe I Public Limited Company - SPDR S&P 500 UCITS ETF stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SSgA SPDR ETFs Europe I Public Ltd Co - stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.092 Buy Candidate Upgraded

Predicted Opening Price for SSgA SPDR ETFs Europe I Public Limited Company - SPDR S&P 500 UCITS ETF of Monday, April 29, 2024

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