Materials Select Sector SPDR Fund ETF Forecast
Red day on Thursday for Materials Select Sector SPDR Fund ETF after losing 0.472%
(Updated on May 02, 2024)
The Materials Select Sector SPDR Fund ETF price fell by -0.472% on the last day (Thursday, 2nd May 2024) from $89.05 to $88.63. During the last trading day the ETF fluctuated 1.26% from a day low at $87.90 to a day high of $89.01. The price has risen in 6 of the last 10 days but is still down by -0.48% for this period. Volume has increased on the last day by 188 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 million shares were bought and sold for approximately $685.68 million.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $88.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 8.11% during the next 3 months and, with a 90% probability hold a price between $95.26 and $102.76 at the end of this 3-month period.
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XLB Signals & Forecast
There are few to no technical positive signals at the moment. The Materials Select Sector SPDR Fund 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 $89.06 and $90.67. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Materials Select Sector SPDR Fund ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $82.62 and $82.41. 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, Materials Select Sector SPDR Fund finds support just below today's level at $82.62. If this is broken, then the next support from accumulated volume will be at $82.41 and $80.98.
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 $1.11 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XLB) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Materials Select Sector SPDR Fund to open at $88.51, and during the day (based on 14 day Average True Range), to move between $87.42 and $89.84, which gives a possible trading interval of +/-$1.21 (+/-1.37%) up or down from last closing price. If Materials Select Sector SPDR Fund takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $89.05 (0.47%) than the support at $82.62 (6.78%), 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 Materials Select Sector SPDR Fund ETF A Buy?
The Materials Select Sector SPDR Fund ETF holds several negative signals and despite the positive trend, we believe Materials Select Sector SPDR Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -4.038 Sell Candidate Unchanged
Predicted Opening Price for Materials Select Sector SPDR Fund of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$88.51 ( 0.132%) | $88.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 89.62 | 1.12 % | |
R2 | 89.20 | 0.642 % | ||
R1 | 88.94 | 0.347 % | ||
Current price: | 88.63 | |||
Support | S1 | 88.09 | -0.610 % | |
S2 | 87.83 | -0.91 % | ||
S3 | 87.40 | -1.38 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 91.94 | 3.73 % | |
R2 | 90.36 | 1.95 % | ||
R1 | 89.05 | 0.474 % | ||
Current price | 88.63 | |||
Support | S1 | 82.62 | -6.78% | |
S2 | 82.41 | -7.02% | ||
S3 | 80.98 | -8.63% |
XLB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.325 | 0.353% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.591 | 0.698% |
3 | Jan 13, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.392 | 0.500% |
4 | Jan 13, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.399 | 0.501% |
5 | Jan 13, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.327 | 0.429% |
FAQ
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