SPY ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for SPY ETF price after Tuesday trading.
(Updated on Jul 02, 2024)
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.74% during the next 3 months and, with a 90% probability hold a price between $578.25 and $614.17 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SPY Signals & Forecast
Mostly positive signals in the chart today. The SPY ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $545.42 and $535.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.87%. 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.
Support, Risk & Stop-loss for SPY ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $513.12 and $510.84. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SPY finds support just below today's level at $513.12. If this is broken, then the next support from accumulated volume will be at $510.84 and $495.16.
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 $5.36 between high and low, or 0.99%. For the last week the ETF has had daily average volatility of 0.795%.
Our recommended stop-loss: $529.44 (-3.56%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 66 days ago.)
Trading Expectations (SPY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect SPDR S&P 500 ETF to open at $547.21, and during the day (based on 14 day Average True Range), to move between $544.49 and $553.47, which gives a possible trading interval of +/-$4.49 (+/-0.82%) 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 1.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $513.12, some $35.86 (6.53%) from the current price of $548.98, our system finds the risk reward attractive.
Is SPDR S&P 500 ETF ETF A Buy?
SPY holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.475 Strong Buy Candidate Upgraded
Predicted Opening Price for SPDR S&P 500 ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $547.21 ( 0.322%) | $548.98 |
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 | |
|---|---|---|
| R3 | 552.57 | 0.655% |
| R2 | 550.53 | 0.282% |
| R1 | 549.26 | 0.0512% |
| Price | 548.98 | |
| S1 | 545.17 | -0.695% |
| S2 | 543.90 | -0.93% |
| S3 | 541.85 | -1.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 548.98 | |
| S1 | 513.12 | -6.53% |
| S2 | 510.84 | -6.95% |
| S3 | 495.16 | -9.80% |
SPY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Apr 30, 2024 | $1.59 | 0.318% |
| 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
Click here for our free guide on how to buy SPY ETF.
