SPDR S&P Oil & Gas Equipment & Services ETF Forecast

$93.09
+0.340 (+0.367%)
At Close: Mar 28, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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SPDR S&P Oil & Gas Equipment & Services ETF downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 01, 2024 Gain 9.48% PDF

The SPDR S&P Oil & Gas Equipment & Services ETF price gained 0.367% on the last trading day (Thursday, 28th Mar 2024), rising from $92.75 to $93.09. During the last trading day the ETF fluctuated 0.784% from a day low at $93.09 to a day high of $93.82. The price has risen in 7 of the last 10 days and is up by 4.82% over the past 2 weeks. Volume fell on the last day by -80 thousand shares and in total, 38 thousand shares were bought and sold for approximately $3.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $92.66, a level that may pose a second chance to hit a runner. According to fan-theory $100.77 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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XES Signals & Forecast

Mostly positive signals in the chart today. The SPDR S&P Oil & Gas Equipment & Services 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 $92.17 and $85.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 19.90%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.

Buy
Special Signal Notification

Double Bottom Formation

Double Bottom Formation A buy signal from a double bottom formation was found on Monday, February 05, 2024 with a target of $88.46. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.

Support, Risk & Stop-loss for SPDR S&P Oil & Gas Equipment & Services ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $81.20 and $78.63. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, SPDR S&P Oil & Gas Equipment & Services finds support just below today's level at $81.20. If this is broken, then the next support from accumulated volume will be at $78.63 and $77.64.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.730 between high and low, or 0.784%. For the last week, the ETF has had daily average volatility of 1.46%.

The SPDR S&P Oil & Gas Equipment & Services ETF is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $90.43 (-2.86%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (XES) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect SPDR S&P Oil & Gas Equipment & Services ETF to open at $93.33, and during the day (based on 14 day Average True Range), to move between $91.39 and $94.79, which gives a possible trading interval of +/-$1.70 (+/-1.83%) up or down from last closing price. If SPDR S&P Oil & Gas Equipment & Services ETF takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $81.20, some $11.89 (12.77%) from the current price of $93.09, our system finds the risk reward attractive.

Is SPDR S&P Oil & Gas Equipment & Services ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR S&P Oil & Gas Equipment & Services ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.119 Buy Candidate Downgraded

Predicted Opening Price for SPDR S&P Oil & Gas Equipment & Services ETF of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$93.33 ( 0.261%) $93.09

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

Trading levels for XES

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 94.06 1.05 %
R2 93.78 0.746 %
R1 93.61 0.561 %
Current price: 93.09
Support S1 93.05 -0.0382 %
S2 92.88 -0.223 %
S3 92.60 -0.523 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 93.09
Support S1 81.20 -12.77%
S2 78.63 -15.53%
S3 77.64 -16.60%

XES Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 18, 2024 Mar 18, 2024 Mar 21, 2024 $0.190 0.206%
2 Dec 18, 2023 Dec 18, 2023 Dec 18, 2023 $0.193 0.230%
3 Jan 17, 2023 Sep 18, 2023 Sep 21, 2023 $0.158 0.168%
4 Jan 17, 2023 Jun 20, 2023 Jun 23, 2023 $0.144 0.199%
5 Jan 17, 2023 Mar 20, 2023 Mar 23, 2023 $0.0610 0.0873%

FAQ

What is the symbol for SPDR S&P Oil & Gas Equipment & Services ETF ETF and on which exchange is it traded?
The symbol for SPDR S&P Oil & Gas Equipment & Services ETF is XES and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell SPDR S&P Oil & Gas Equipment & Services ETF ETF?
Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR S&P Oil & Gas Equipment & Services ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.

How to buy SPDR S&P Oil & Gas Equipment & Services ETF ETF?
SPDR S&P Oil & Gas Equipment & Services ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy SPDR S&P Oil & Gas Equipment & Services ETF ETF.

What's the current price of SPDR S&P Oil & Gas Equipment & Services ETF ETF?
As of the end of day on the 2024-03-28, the price of an SPDR S&P Oil & Gas Equipment & Services ETF (XES) share was $93.09.

What is the 52-week high and low for SPDR S&P Oil & Gas Equipment & Services ETF ETF?
The 52-week high for SPDR S&P Oil & Gas Equipment & Services ETF ETF is $100.81 and the 52-week low is $66.83.

What is the market capitalization of SPDR S&P Oil & Gas Equipment & Services ETF ETF?
As of the 2024-03-28, the market capitalization of SPDR S&P Oil & Gas Equipment & Services ETF is 1.852B.
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About SPDR S&P Oil & Gas Equipment & Services ETF

XES was created on 06/19/06 by State Street Global Advisors. The ETF tracks an equal-weighted index of companies in the oil and gas equipment and services sub industry of the S&P Total Markets Index.... XES Profile

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