XLE ETF Forecast

NYSEARCA:XLE Open Broker Account

$90.32 (-0.507%)

Volume: 15.049M

Closed: Dec 02, 2022

Hollow Logo Score: 2.816

XLE ETF Forecast

$90.32 (-0.507%)

Volume: 15.049M

Closed: Dec 02, 2022

Score Hollow Logo 2.816
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ]

XLE ETF price down 0.507% on Friday
(Updated on Dec 02, 2022)

Buy or Hold candidate since 2022-11-03 Loss -0.01% PDF

The XLE ETF price fell by -0.507% on the last day (Friday, 2nd Dec 2022) from $90.78 to $90.32. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.78% from a day low at $89.78 to a day high of $91.38. The price has fallen in 6 of the last 10 days and is down by -1.27% 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 -1 million shares and in total, 15 million shares were bought and sold for approximately $1.36 billion.

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The ETF lies in the middle of a wide and 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 25.47% during the next 3 months and, with a 90% probability hold a price between $105.61 and $123.13 at the end of this 3-month period.

XLE Signals & Forecast

The XLE ETF holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term moving average at approximately $90.93. On a fall, the ETF will find some support from the long-term average at approximately $89.53. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Tuesday, November 15, 2022, and so far it has fallen -4.21%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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Support, Risk & Stop-loss for XLE ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $81.80 and $72.60. 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, XLE finds support just below today's level at $81.80. If this is broken, then the next support from accumulated volume will be at $72.60 and $70.48.

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 $1.60 between high and low, or 1.78%. For the last week the ETF has had daily average volatility of 1.87%.

Our recommended stop-loss: $85.91 (-4.87%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (XLE) For The Upcoming Trading Day Of Monday 5th

For the upcoming trading day on Monday, 5th we expect Energy Select Sector SPDR Fund to open at $90.49, and during the day (based on 14 day Average True Range), to move between $88.01 and $92.62, which gives a possible trading interval of +/-$2.30 (+/-2.55%) up or down from last closing price. If Energy Select Sector SPDR Fund takes out the full calculated possible swing range there will be an estimated 5.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $90.32 (0.01%) than the support at $81.80 (9.43%), 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 Energy Select Sector SPDR Fund 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 XLE ETF to perform well in the short-term.

Current score: 2.816 Open Broker Account

Buy Candidate Unchanged

Predicted Opening Price for Energy Select Sector SPDR Fund of Monday, December 5, 2022

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

Fair opening price December 5, 2022 Current price
$90.49 $90.32 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 92.09 1.97 %
91.48 1.29 %
91.10 0.87 %
Current price: 90.32
Support 89.88 -0.481 %
89.50 -0.90 %
88.89 -1.58 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 91.42 1.22 %
90.47 0.172 %
90.32 0.0055 %
Current price 90.32
Support 81.80 -9.43%
72.60 -19.61%
70.48 -21.96%

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About Energy Select Sector SPDR Fund

In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: oil, gas and consumable fuels; and energy equipment and services. The fund is non-diversified.... XLE Profile

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