SPDR S&P Aerospace & Defense ETF Forecast
SPDR S&P Aerospace & Defense ETF upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The SPDR S&P Aerospace & Defense ETF price gained 0.773% on the last trading day (Friday, 3rd May 2024), rising from $138.41 to $139.48. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.696% from a day low at $138.59 to a day high of $139.55. The price has risen in 7 of the last 10 days and is up by 5.48% 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, 8 thousand more shares were traded than the day before. In total, 76 thousand shares were bought and sold for approximately $10.59 million.
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 Aerospace & Defense ETF with a 90% probability to be traded between $134.03 and $144.73 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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XAR Signals & Forecast
Mostly positive signals in the chart today. The SPDR S&P Aerospace & Defense 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 $136.98 and $136.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.59%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SPDR S&P Aerospace & Defense ETF
SPDR S&P Aerospace & Defense finds support from accumulated volume at $138.63 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 $0.97 between high and low, or 0.696%. For the last week the ETF has had daily average volatility of 1.25%.
Our recommended stop-loss: $133.27 (-4.45%) (This ETF has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (XAR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect SPDR S&P Aerospace & Defense ETF to open at $139.21, and during the day (based on 14 day Average True Range), to move between $137.52 and $141.44, which gives a possible trading interval of +/-$1.96 (+/-1.40%) up or down from last closing price. If SPDR S&P Aerospace & Defense ETF takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $139.74 (0.19%) than the support at $138.63 (0.61%), 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 Aerospace & Defense ETF ETF A Buy?
SPDR S&P Aerospace & Defense holds several positive signals and is considered to be a good choice at current levels. We expect the SPDR S&P Aerospace & Defense ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.340 Strong Buy Candidate Upgraded
Predicted Opening Price for SPDR S&P Aerospace & Defense ETF of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$139.21 ( 0.197%) | $139.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 140.17 | 0.495 % | |
R2 | 139.80 | 0.230 % | ||
R1 | 139.57 | 0.0671 % | ||
Current price: | 139.48 | |||
Support | S1 | 138.84 | -0.461 % | |
S2 | 138.61 | -0.625 % | ||
S3 | 138.24 | -0.89 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 141.87 | 1.71 % | |
R2 | 141.43 | 1.40 % | ||
R1 | 139.74 | 0.186 % | ||
Current price | 139.48 | |||
Support | S1 | 138.63 | -0.609% | |
S2 | 137.43 | -1.47% | ||
S3 | 135.66 | -2.74% |
XAR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.156 | 0.112% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.348 | 0.262% |
3 | Jan 17, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.125 | 0.111% |
4 | Jan 17, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.143 | 0.121% |
5 | Jan 17, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.121 | 0.108% |
FAQ
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