SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF Stock Forecast
Green day on Tuesday for SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF
(Updated on Apr 30, 2024)
The SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock price gained 2.18% on the last trading day (Tuesday, 30th Apr 2024), rising from £114.50 to £117.00. During the last trading day the stock fluctuated 4.75% from a day low at £115.00 to a day high of £120.46. The price has risen in 6 of the last 10 days and is up by 3.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 145 thousand shares were bought and sold for approximately £16.99 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.50% during the next 3 months and, with a 90% probability hold a price between £104.95 and £136.55 at the end of this 3-month period.
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XAR.L Signals & Forecast
The SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock 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 £115.93 and £110.23. 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 is rising along with the price. This is considered to be a good technical signal. 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 Thursday, April 25, 2024, and so far it has fallen -2.50%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock
On the downside, the stock finds support just below today's level from accumulated volume at £109.00 and £107.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF finds support just below today's level at £109.00. If this is broken, then the next support from accumulated volume will be at £107.50 and £105.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £5.46 between high and low, or 4.75%. For the last week, the stock has had daily average volatility of 5.55%.
Our recommended stop-loss: £111.54 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (XAR.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF to open at £117.49, and during the day (based on 14 day Average True Range), to move between £111.60 and £122.40, which gives a possible trading interval of +/-£5.40 (+/-4.62%) up or down from last closing price. If SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF takes out the full calculated possible swing range there will be an estimated 9.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £118.50 (1.28%) than the support at £109.00 (6.84%), 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(R) S&P(R) AEROSPACE & DEFENSE ETF stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock to perform well in the short-term.
Current score: 3.865 Buy Candidate Unchanged
Predicted Opening Price for SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
£117.49 ( 0.416%) | £117.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAR.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 122.95 | 5.08 % | |
R2 | 120.86 | 3.30 % | ||
R1 | 119.57 | 2.20 % | ||
Current price: | 117.00 | |||
Support | S1 | 115.40 | -1.37 % | |
S2 | 114.11 | -2.47 % | ||
S3 | 112.03 | -4.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 130.50 | 11.54 % | |
R2 | 120.00 | 2.56 % | ||
R1 | 118.50 | 1.28 % | ||
Current price | 117.00 | |||
Support | S1 | 109.00 | -6.84% | |
S2 | 107.50 | -8.12% | ||
S3 | 105.00 | -10.26% |
XAR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 05, 2018 | Sep 13, 2018 | Oct 12, 2018 | £1.00 | 0.647% |
2 | Mar 21, 2018 | May 31, 2018 | Jun 29, 2018 | £6.80 | 2.84% |
3 | Sep 06, 2017 | Sep 14, 2017 | Oct 12, 2017 | £3.40 | 0.739% |
4 | Mar 22, 2017 | May 25, 2017 | Jun 26, 2017 | £6.70 | 1.86% |
5 | Aug 24, 2016 | Sep 01, 2016 | Sep 30, 2016 | £3.30 | 0.660% |
FAQ
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