THE CONSUMER STAPLES SELECT SECTOR SPDR ETF Forecast
THE CONSUMER STAPLES SELECT SECTOR SPDR ETF downgraded to Sell Candidate
(Updated on May 01, 2024)
The THE CONSUMER STAPLES SELECT SECTOR SPDR ETF price fell by -0.636% on the last day (Wednesday, 1st May 2024) from $75.50 to $75.02. During the last trading day the ETF fluctuated 1.15% from a day low at $74.71 to a day high of $75.57. The price has risen in 6 of the last 10 days and is up by 2.23% over the past 2 weeks. Volume has increased on the last day by 12 million 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, 24 million shares were bought and sold for approximately $1.79 billion.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect THE CONSUMER STAPLES SELECT SECTOR SPDR ETF with a 90% probability to be traded between $74.49 and $78.04 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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XLP Signals & Forecast
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. The THE CONSUMER STAPLES SELECT SECTOR SPDR ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $75.57 and $75.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. 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 THE CONSUMER STAPLES SELECT SECTOR SPDR ETF
THE CONSUMER STAPLES SELECT SECTOR SPDR finds support from accumulated volume at $74.17 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 $0.86 between high and low, or 1.15%. For the last week the ETF has had daily average volatility of 0.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XLP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect THE CONSUMER STAPLES SELECT SECTOR SPDR FUND to open at $75.10, and during the day (based on 14 day Average True Range), to move between $74.30 and $75.74, which gives a possible trading interval of +/-$0.715 (+/-0.95%) up or down from last closing price. If THE CONSUMER STAPLES SELECT SECTOR SPDR FUND takes out the full calculated possible swing range there will be an estimated 1.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.39 (0.49%) than the support at $74.17 (1.13%), 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 THE CONSUMER STAPLES SELECT SECTOR SPDR FUND ETF A Buy?
THE CONSUMER STAPLES SELECT SECTOR SPDR holds several negative signals and is within a narrow and 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: -2.081 Sell Candidate Downgraded
Predicted Opening Price for THE CONSUMER STAPLES SELECT SECTOR SPDR FUND of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $75.10 ( 0.107%) | $75.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.96 | 1.25 % | |
| R2 | 75.63 | 0.82 % | ||
| R1 | 75.43 | 0.545 % | ||
| Current price: | 75.02 | |||
| Support | S1 | 74.77 | -0.331 % | |
| S2 | 74.57 | -0.602 % | ||
| S3 | 74.24 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.93 | 1.21 % | |
| R2 | 75.75 | 0.97 % | ||
| R1 | 75.39 | 0.493 % | ||
| Current price | 75.02 | |||
| Support | S1 | 74.17 | -1.13% | |
| S2 | 73.38 | -2.19% | ||
| S3 | 73.11 | -2.55% |
XLP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.552 | 0.727% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.536 | 0.750% |
| 3 | Jan 26, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.485 | 0.688% |
| 4 | Jan 26, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.526 | 0.713% |
| 5 | Jan 26, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.345 | 0.481% |
FAQ
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