SPDR S&P/ASX 200 Fund ETF Forecast
SPDR S&P/ASX 200 Fund ETF upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jun 18, 2024)
The SPDR S&P/ASX 200 Fund ETF price gained 0.96% on the last trading day (Tuesday, 18th Jun 2024), rising from A$69.70 to A$70.37. During the last trading day the ETF fluctuated 0.571% from a day low at A$70.02 to a day high of A$70.42. The price has been going up and down for this period, and there has been a 0.21% gain for the last 2 weeks. Volume fell on the last day by -92 thousand shares and in total, 82 thousand shares were bought and sold for approximately A$5.80 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SPDR S&P/ASX 200 Fund ETF with a 90% probability to be traded between A$68.28 and A$71.50 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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STW.AX Signals & Forecast
The SPDR S&P/ASX 200 Fund 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 A$70.18 and A$70.03. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -3.12% to A$68.18 within 16 trading days since signal was issued (Wednesday, June 19, 2024).
Support, Risk & Stop-loss for SPDR S&P/ASX 200 Fund ETF
SPDR S&P/ASX 200 Fund finds support from accumulated volume at A$70.16 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 A$0.400 between high and low, or 0.571%. For the last week the ETF has had daily average volatility of 0.458%.
Our recommended stop-loss: A$67.80 (-3.65%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (STW.AX) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect SPDR S&P/ASX 200 Fund to open at A$70.27, and during the day (based on 14 day Average True Range), to move between A$69.79 and A$70.95, which gives a possible trading interval of +/-A$0.583 (+/-0.83%) up or down from last closing price. If SPDR S&P/ASX 200 Fund takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$70.38 (0.01%) than the support at A$70.16 (0.30%), 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/ASX 200 Fund ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for SPDR S&P/ASX 200 Fund ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.091 Buy Candidate Upgraded
Predicted Opening Price for SPDR S&P/ASX 200 Fund of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| A$70.27 ( 0.142%) | A$70.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STW.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.67 | 0.426% |
| R2 | 70.52 | 0.209% |
| R1 | 70.42 | 0.0750% |
| Price | 70.37 | |
| S1 | 70.12 | -0.359% |
| S2 | 70.02 | -0.493% |
| S3 | 69.87 | -0.711% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 71.11 | 1.05% |
| R2 | 70.77 | 0.568% |
| R1 | 70.38 | 0.0142% |
| Price | 70.37 | |
| S1 | 70.16 | -0.298% |
| S2 | 70.10 | -0.384% |
| S3 | 69.70 | -0.95% |
STW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | A$0.687 | 0.98% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | A$0.545 | 0.797% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | A$0.97 | 1.53% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | A$0.677 | 1.04% |
| 5 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | A$0.685 | 1.06% |
FAQ
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