SPDR S&P Emerging Markets Fund ETF Forecast

SPDR S&P Emerging Markets Fund ETF upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

WEMG.AX Signals & Forecast

The SPDR S&P Emerging Markets Fund ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at A$23.35 and A$23.33. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.96%. 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). The ETF had a Golden Star Signal on Wednesday, April 24, 2024 in the short-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.

Buy

Special Signal Notification

Golden Star

The ETF had a Golden Star Signal on Wednesday, April 24, 2024 in the short-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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, June 27, 2024 and based on theory for this formation the price should go up by 2.96% to A$23.76 within 16 trading days since signal was issued (Friday, July 19, 2024).

Support, Risk & Stop-loss for SPDR S&P Emerging Markets Fund ETF

SPDR S&P Emerging Markets Fund finds support from accumulated volume at A$22.79 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.198%

Our recommended stop-loss: A$21.86 (-5.27%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (WEMG.AX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect SPDR S&P Emerging Markets Fund to open at A$23.08, and during the day (based on 14 day Average True Range), to move between A$22.90 and A$23.26, which gives a possible trading interval of +/-A$0.176 (+/-0.76%) up or down from last closing price. If SPDR S&P Emerging Markets Fund takes out the full calculated possible swing range there will be an estimated 1.52% 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$23.19 (0.48%) than the support at A$22.79 (1.26%), 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 Emerging Markets Fund ETF A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 1.656 Buy Candidate Upgraded

Predicted Opening Price for SPDR S&P Emerging Markets Fund of Monday, July 1, 2024

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