SPDR(R) CITI INTERNATIONAL GOVERNMENT ETF Forecast
Red day on Friday for SPDR(R) CITI INTERNATIONAL GOVERNMENT
(Updated on Jun 28, 2024)
The SPDR(R) CITI INTERNATIONAL GOVERNMENT ETF price fell by -0.491% on the last day (Friday, 28th Jun 2024) from $38.70 to $38.51. During the last trading day the ETF fluctuated 1.12% from a day low at $38.34 to a day high of $38.77. The price has risen in 6 of the last 10 days but is still down by -0.28% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -62 thousand shares and in total, 23 thousand shares were bought and sold for approximately $903.37 thousand.
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(R) CITI INTERNATIONAL GOVERNMENT ETF with a 90% probability to be traded between $37.28 and $38.71 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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WIP Signals & Forecast
There are mixed signals in the ETF today. The SPDR(R) CITI INTERNATIONAL GOVERNMENT 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 $38.61 and $39.00. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.391%. 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).
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 and based on theory for this formation the price should go up by 6.25% to $40.92 within 28 trading days since signal was issued (Tuesday, July 23, 2024).
Support, Risk & Stop-loss for SPDR(R) CITI INTERNATIONAL GOVERNMENT ETF
SPDR(R) CITI INTERNATIONAL GOVERNMENT finds support from accumulated volume at $38.42 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 $0.430 between high and low, or 1.12%. For the last week the ETF has had daily average volatility of 0.732%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WIP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR(R) CITI INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF to open at $38.54, and during the day (based on 14 day Average True Range), to move between $38.17 and $38.85, which gives a possible trading interval of +/-$0.337 (+/-0.87%) up or down from last closing price. If SPDR(R) CITI INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF takes out the full calculated possible swing range there will be an estimated 1.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.42 (0.23%) than the resistance at $38.69 (0.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SPDR(R) CITI INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF ETF A Buy?
SPDR(R) CITI INTERNATIONAL GOVERNMENT holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.325 Sell Candidate Unchanged
Predicted Opening Price for SPDR(R) CITI INTERNATIONAL GOVERNMENT INFLATION-PROTECTED BOND ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $38.54 ( 0.0779%) | $38.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WIP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.97 | 1.19% |
| R2 | 38.81 | 0.768% |
| R1 | 38.70 | 0.504% |
| Price | 38.51 | |
| S1 | 38.38 | -0.349% |
| S2 | 38.27 | -0.612% |
| S3 | 38.11 | -1.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.17 | 1.71% |
| R2 | 38.96 | 1.17% |
| R1 | 38.69 | 0.467% |
| Price | 38.51 | |
| S1 | 38.42 | -0.234% |
| S2 | 38.41 | -0.260% |
| S3 | 38.36 | -0.390% |
WIP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.290 | 0.738% |
| 2 | Jan 02, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.142 | 0.356% |
| 3 | Jan 02, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.176 | 0.436% |
| 4 | Jan 02, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.0909 | 0.228% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.171 | 0.416% |
FAQ
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