Spdr S&p U.s. Financials Select Sector ETF Forecast
Spdr S&p U.s. Financials Select Sector ETF price down 0.779% on Wednesday
(Updated on Jun 26, 2024)
The Spdr S&p U.s. Financials Select Sector ETF price fell by -0.779% on the last day (Wednesday, 26th Jun 2024) from $47.82 to $47.45. During the last trading day the ETF fluctuated 0.98% from a day low at $47.32 to a day high of $47.79. The price has risen in 6 of the last 10 days and is up by 0.01% over the past 2 weeks. Volume has increased on the last day by 3 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, 5 thousand shares were bought and sold for approximately $258.35 thousand.
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 U.s. Financials Select Sector ETF with a 90% probability to be traded between $46.35 and $49.43 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SXLF.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.35%. 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 U.s. Financials Select Sector 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 $47.70 and $47.82. A break-up above any of these levels will issue buy signals. Spdr S&p U.s. Financials Select Sector 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 U.s. Financials Select Sector ETF
Spdr S&p U.s. Financials Select Sector finds support from accumulated volume at $46.82 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 $0.465 between high and low, or 0.98%. For the last week the ETF has had daily average volatility of 0.87%.
Our recommended stop-loss: $45.14 (-4.86%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (SXLF.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Spdr S&p U.s. Financials Select Sector Ucits Etf to open at $47.52, and during the day (based on 14 day Average True Range), to move between $47.02 and $47.87, which gives a possible trading interval of +/-$0.427 (+/-0.90%) up or down from last closing price. If Spdr S&p U.s. Financials Select Sector Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.50 (0.10%) than the support at $46.82 (1.33%), 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 U.s. Financials Select Sector Ucits Etf ETF A Buy?
Spdr S&p U.s. Financials Select Sector holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.949 Hold/Accumulate Unchanged
Predicted Opening Price for Spdr S&p U.s. Financials Select Sector Ucits Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $47.52 ( 0.154%) | $47.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SXLF.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.99 | 1.13% |
| R2 | 47.81 | 0.760% |
| R1 | 47.70 | 0.529% |
| Price | 47.45 | |
| S1 | 47.34 | -0.220% |
| S2 | 47.23 | -0.451% |
| S3 | 47.06 | -0.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.92 | 3.10% |
| R2 | 47.55 | 0.219% |
| R1 | 47.50 | 0.100% |
| Price | 47.45 | |
| S1 | 46.82 | -1.33% |
| S2 | 46.81 | -1.34% |
| S3 | 46.37 | -2.27% |
FAQ
Click here for our free guide on how to buy Spdr S&p U.s. Financials Select Sector Ucits Etf ETF.
