SPDR S&P Health Care Services ETF Forecast

Stronger technical forecast for SPDR S&P Health Care Services ETF price after Friday trading.
(Updated on May 10, 2024)

XHS Signals & Forecast

The SPDR S&P Health Care Services ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $89.29 and $89.58. 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 4.06%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. SPDR S&P Health Care Services gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for SPDR S&P Health Care Services ETF

SPDR S&P Health Care Services finds support from accumulated volume at $88.72 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 $0.140 between high and low, or 0.156%. For the last week the ETF has had daily average volatility of 0.541%.

Our recommended stop-loss: $85.75 (-4.38%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (XHS) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect SPDR S&P Health Care Services ETF to open at $89.62, and during the day (based on 14 day Average True Range), to move between $88.75 and $90.59, which gives a possible trading interval of +/-$0.92 (+/-1.02%) up or down from last closing price. If SPDR S&P Health Care Services ETF takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $90.38 (0.79%) than the support at $88.72 (1.06%), 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 Health Care Services ETF ETF A Buy?

Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.008 Buy Candidate Upgraded

Predicted Opening Price for SPDR S&P Health Care Services ETF of Monday, May 13, 2024

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