SPDR(R) S&P(R) HOMEBUILDERS ETF Forecast
Green day on Wednesday for SPDR(R) S&P(R) HOMEBUILDERS
(Updated on Mar 27, 2024)
The SPDR(R) S&P(R) HOMEBUILDERS ETF price gained 1.21% on the last trading day (Wednesday, 27th Mar 2024), rising from $109.33 to $110.65. During the last trading day the ETF fluctuated 0.86% from a day low at $109.74 to a day high of $110.69. The price has been going up and down for this period, and there has been a 3.54% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 748 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $203.33 million.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 18.26% during the next 3 months and, with a 90% probability hold a price between $124.03 and $132.67 at the end of this 3-month period.
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XHB Signals & Forecast
The SPDR(R) S&P(R) HOMEBUILDERS 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 $109.40 and $103.50. 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, March 21, 2024, and so far it has fallen -0.360%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SPDR(R) S&P(R) HOMEBUILDERS ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $98.89 and $97.38. 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(R) S&P(R) HOMEBUILDERS finds support just below today's level at $98.89. If this is broken, then the next support from accumulated volume will be at $97.38 and $94.33.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.95 (0.86%) between high and low. For the last week, the ETF has had daily average volatility of 1.15%.
Our recommended stop-loss: $106.38 (-3.86%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (XHB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect SPDR(R) S&P(R) HOMEBUILDERS ETF to open at $110.36, and during the day (based on 14 day Average True Range), to move between $108.89 and $112.41, which gives a possible trading interval of +/-$1.76 (+/-1.59%) up or down from last closing price. If SPDR(R) S&P(R) HOMEBUILDERS ETF takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $111.05 (0.36%) than the support at $98.89 (10.63%), 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) HOMEBUILDERS ETF ETF 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) HOMEBUILDERS ETF to perform well in the short-term.
Current score: 4.051 Buy Candidate Unchanged
Predicted Opening Price for SPDR(R) S&P(R) HOMEBUILDERS ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$110.36 ( 0.264%) | $110.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XHB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 111.30 | 0.590 % | |
R2 | 110.94 | 0.264 % | ||
R1 | 110.72 | 0.0627 % | ||
Current price: | 110.65 | |||
Support | S1 | 110.00 | -0.590 % | |
S2 | 109.77 | -0.791 % | ||
S3 | 109.41 | -1.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 111.05 | 0.362 % | ||
Current price | 110.65 | |||
Support | S1 | 98.89 | -10.63% | |
S2 | 97.38 | -11.99% | ||
S3 | 94.33 | -14.75% |
XHB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.168 | 0.152% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.188 | 0.201% |
3 | Jan 19, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.190 | 0.250% |
4 | Jan 19, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.179 | 0.233% |
5 | Jan 19, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.181 | 0.278% |
FAQ
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