THE CONSUMER DISCRETIONARY SELECT SECTOR ETF Forecast
THE CONSUMER DISCRETIONARY SELECT SECTOR ETF price down 0.717% on Tuesday
(Updated on May 07, 2024)
The THE CONSUMER DISCRETIONARY SELECT SECTOR ETF price fell by -0.717% on the last day (Tuesday, 7th May 2024) from $179.81 to $178.52. During the last trading day the ETF fluctuated 0.85% from a day low at $178.25 to a day high of $179.76. The price has risen in 7 of the last 10 days and is up by 3.47% over the past 2 weeks. Volume has increased on the last day by 22 thousand 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, 3 million shares were bought and sold for approximately $559.69 million.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $179.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -3.20% during the next 3 months and, with a 90% probability hold a price between $163.20 and $173.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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XLY Signals & Forecast
The THE CONSUMER DISCRETIONARY SELECT SECTOR ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $177.59 and $178.05. 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). 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 Monday, April 29, 2024, and so far it has fallen -0.82%. 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 DISCRETIONARY SELECT SECTOR ETF
THE CONSUMER DISCRETIONARY SELECT SECTOR finds support from accumulated volume at $176.17 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 $1.51 (0.85%) between high and low. For the last week, the ETF has had daily average volatility of 1.39%.
Our recommended stop-loss: $173.18 (-2.99%) (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 (XLY) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND to open at $178.84, and during the day (based on 14 day Average True Range), to move between $175.68 and $181.36, which gives a possible trading interval of +/-$2.84 (+/-1.59%) up or down from last closing price. If THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $179.02 (0.28%) than the support at $176.17 (1.32%), 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 DISCRETIONARY SELECT SECTOR SPDR FUND ETF A Buy?
THE CONSUMER DISCRETIONARY SELECT SECTOR holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.084 Hold/Accumulate Unchanged
Predicted Opening Price for THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $178.84 ( 0.181%) | $178.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 180.35 | 1.03 % | |
| R2 | 179.78 | 0.704 % | ||
| R1 | 179.42 | 0.504 % | ||
| Current price: | 178.52 | |||
| Support | S1 | 178.27 | -0.142 % | |
| S2 | 177.91 | -0.342 % | ||
| S3 | 177.33 | -0.665 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 182.52 | 2.24 % | |
| R2 | 180.25 | 0.97 % | ||
| R1 | 179.02 | 0.280 % | ||
| Current price | 178.52 | |||
| Support | S1 | 176.17 | -1.32% | |
| S2 | 174.52 | -2.24% | ||
| S3 | 169.76 | -4.91% |
XLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.387 | 0.210% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.320 | 0.178% |
| 3 | Jan 17, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.305 | 0.188% |
| 4 | Jan 17, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.334 | 0.202% |
| 5 | Jan 17, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.430 | 0.303% |
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