THE UTILITIES SELECT SECTOR SPDR FUND ETF Forecast

THE UTILITIES SELECT SECTOR SPDR FUND ETF price up 0.603% on Wednesday
(Updated on Apr 24, 2024)

XLU Signals & Forecast

The THE UTILITIES SELECT SECTOR SPDR FUND 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 $65.12 and $64.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.32%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for THE UTILITIES SELECT SECTOR SPDR FUND ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $62.61 and $61.45. 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, THE UTILITIES SELECT SECTOR SPDR FUND finds support just below today's level at $62.61. If this is broken, then the next support from accumulated volume will be at $61.45 and $61.03.

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 $1.55 between high and low, or 2.37%. For the last week the ETF has had daily average volatility of 1.69%.

Since the THE UTILITIES SELECT SECTOR SPDR FUND has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $64.06 (-4.01%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (XLU) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND to open at $66.37, and during the day (based on 14 day Average True Range), to move between $65.67 and $67.81, which gives a possible trading interval of +/-$1.07 (+/-1.60%) up or down from last closing price. If THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $62.61, some $4.13 (6.19%) from the current price of $66.74, our system finds the risk reward attractive.

Is THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES 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 THE UTILITIES SELECT SECTOR SPDR FUND ETF to perform well in the short-term.

Current score: 4.794 Buy Candidate Unchanged

Predicted Opening Price for THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND of Thursday, April 25, 2024

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