THE CONSUMER STAPLES SELECT SECTOR SPDR ETF Forecast
THE CONSUMER STAPLES SELECT SECTOR SPDR ETF upgraded to Buy Candidate.
(Updated on May 02, 2024)
The THE CONSUMER STAPLES SELECT SECTOR SPDR ETF price gained 0.83% on the last trading day (Thursday, 2nd May 2024), rising from $75.02 to $75.64. During the last trading day the ETF fluctuated 1.25% from a day low at $74.98 to a day high of $75.92. The price has risen in 6 of the last 10 days and is up by 2.6% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 22 million shares were bought and sold for approximately $1.67 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $74.55 and $78.11 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
The THE CONSUMER STAPLES SELECT SECTOR SPDR ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $75.61 and $75.02. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Wednesday, April 24, 2024, and so far it has fallen -0.382%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for THE CONSUMER STAPLES SELECT SECTOR SPDR ETF
THE CONSUMER STAPLES SELECT SECTOR SPDR finds support from accumulated volume at $75.02 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 $0.94 between high and low, or 1.25%. For the last week the ETF has had daily average volatility of 0.87%.
Our recommended stop-loss: $73.24 (-3.17%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (XLP) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect THE CONSUMER STAPLES SELECT SECTOR SPDR FUND to open at $75.51, and during the day (based on 14 day Average True Range), to move between $74.91 and $76.37, which gives a possible trading interval of +/-$0.731 (+/-0.97%) 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 1.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $75.75 (0.15%) than the support at $75.02 (0.82%), 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?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for THE CONSUMER STAPLES SELECT SECTOR SPDR ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 4.204 Buy Candidate Upgraded
Predicted Opening Price for THE CONSUMER STAPLES SELECT SECTOR SPDR FUND of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $75.51 ( 0.170%) | $75.64 |
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 | 76.45 | 1.07 % | |
| R2 | 76.09 | 0.594 % | ||
| R1 | 75.87 | 0.303 % | ||
| Current price: | 75.64 | |||
| Support | S1 | 75.15 | -0.642 % | |
| S2 | 74.93 | -0.93 % | ||
| S3 | 74.58 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 75.97 | 0.436 % | |
| R2 | 75.93 | 0.383 % | ||
| R1 | 75.75 | 0.145 % | ||
| Current price | 75.64 | |||
| Support | S1 | 75.02 | -0.82% | |
| S2 | 73.38 | -2.99% | ||
| S3 | 73.11 | -3.34% |
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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