XLE ETF Forecast

XLE ETF price ended at $93.85 on Thursday, after losing 0.266%.
(Updated on Apr 18, 2024)

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 $95.59. On a fall, the ETF will find some support from the long-term average at approximately $92.64. 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 Friday, April 05, 2024, and so far it has fallen -4.30%. 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.

Support, Risk & Stop-loss for XLE ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $85.62 and $83.40. 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 $85.62. If this is broken, then the next support from accumulated volume will be at $83.40 and $83.31.

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 $1.21 (1.29%) between high and low. For the last week, the ETF has had daily average volatility of 2.09%.

Our recommended stop-loss: $89.15 (-5.01%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (XLE) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Energy Select Sector SPDR Fund to open at $94.03, and during the day (based on 14 day Average True Range), to move between $92.38 and $95.32, which gives a possible trading interval of +/-$1.47 (+/-1.57%) 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 3.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $95.11 (1.34%) than the support at $85.62 (8.77%), 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: 3.184 Buy Candidate Unchanged

Predicted Opening Price for Energy Select Sector SPDR Fund of Friday, April 19, 2024

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