SPDR S&P Health Care Equipment ETF Forecast
Weaker technical forecast for SPDR S&P Health Care Equipment as ETF downgraded to Sell Candidate.
(Updated on Jun 20, 2024)
The SPDR S&P Health Care Equipment ETF price fell by -0.118% on the last day (Thursday, 20th Jun 2024) from $84.44 to $84.34. During the last trading day the ETF fluctuated 0.738% from a day low at $84.04 to a day high of $84.66. The price has fallen in 8 of the last 10 days and is down by -2.72% 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 -8 thousand shares and in total, 17 thousand shares were bought and sold for approximately $1.47 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 Health Care Equipment ETF with a 90% probability to be traded between $83.24 and $89.43 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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XHE Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.632%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR S&P Health Care Equipment 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 $84.72 and $85.76. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for SPDR S&P Health Care Equipment ETF
SPDR S&P Health Care Equipment finds support from accumulated volume at $84.09 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 $0.620 between high and low, or 0.738%. For the last week the ETF has had daily average volatility of 0.97%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XHE) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect SPDR S&P Health Care Equipment ETF to open at $84.35, and during the day (based on 14 day Average True Range), to move between $83.26 and $85.42, which gives a possible trading interval of +/-$1.08 (+/-1.28%) up or down from last closing price. If SPDR S&P Health Care Equipment ETF takes out the full calculated possible swing range there will be an estimated 2.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $84.09 (0.30%) than the resistance at $85.48 (1.35%), 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 S&P Health Care Equipment ETF ETF A Buy?
SPDR S&P Health Care Equipment holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -1.474 Sell Candidate Downgraded
Predicted Opening Price for SPDR S&P Health Care Equipment ETF of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $84.35 ( 0.0079%) | $84.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XHE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 84.97 | 0.743% |
| R2 | 84.73 | 0.462% |
| R1 | 84.58 | 0.289% |
| Price | 84.34 | |
| S1 | 84.11 | -0.273% |
| S2 | 83.96 | -0.446% |
| S3 | 83.73 | -0.727% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 86.48 | 2.54% |
| R2 | 85.93 | 1.89% |
| R1 | 85.48 | 1.35% |
| Price | 84.34 | |
| S1 | 84.09 | -0.302% |
| S2 | 82.71 | -1.93% |
| S3 | 81.91 | -2.88% |
XHE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0270 | 0.0331% |
| 2 | Jan 17, 2022 | Dec 19, 2022 | Dec 22, 2022 | $0.0070 | 0.0078% |
| 3 | Jan 17, 2022 | Sep 19, 2022 | Sep 22, 2022 | $0.0140 | 0.0163% |
| 4 | Jan 17, 2022 | Jun 21, 2022 | Jun 24, 2022 | $0.0030 | 0.0034% |
| 5 | Jan 17, 2022 | Mar 21, 2022 | Mar 24, 2022 | $0.0120 | 0.0111% |
FAQ
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