The Real Estate Select Sector SPDR Fund ETF Forecast

Evaluation of The Real Estate Select Sector SPDR Fund ETF downgraded after the last trading session.
(Updated on May 22, 2024)

XLRE Signals & Forecast

The The Real Estate Select Sector SPDR Fund 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 $38.53. On a fall, the ETF will find some support from the long-term average at approximately $37.34. 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. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.73%. 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 Real Estate Select Sector SPDR Fund ETF

The Real Estate Select Sector SPDR Fund finds support from accumulated volume at $37.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.515 (1.35%) between high and low. For the last week, the ETF has had daily average volatility of 0.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XLRE) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect The Real Estate Select Sector SPDR Fund to open at $38.25, and during the day (based on 14 day Average True Range), to move between $37.66 and $38.66, which gives a possible trading interval of +/-$0.504 (+/-1.32%) up or down from last closing price. If The Real Estate Select Sector SPDR Fund takes out the full calculated possible swing range there will be an estimated 2.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $38.31 (0.39%) than the support at $37.59 (1.49%), 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 Real Estate Select Sector SPDR Fund ETF A Buy?

The Real Estate Select Sector SPDR Fund holds several negative signals and we believe that 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 Hold/Accumulate to a Sell candidate.

Current score: -3.218 Sell Candidate Downgraded

Predicted Opening Price for The Real Estate Select Sector SPDR Fund of Thursday, May 23, 2024

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