SPDR(R) S&P(R) OIL & GAS EXPLORATION & ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for SPDR(R) S&P(R) OIL & GAS EXPLORATION &
(Updated on May 01, 2024)
The SPDR(R) S&P(R) OIL & GAS EXPLORATION & ETF price fell by -2.22% on the last day (Wednesday, 1st May 2024) from $151.43 to $148.07. During the last trading day the ETF fluctuated 3.20% from a day low at $146.73 to a day high of $151.43. The price has risen in 7 of the last 10 days but is still down by -3.2% for this period. Volume has increased on the last day by 453 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, 5 million shares were bought and sold for approximately $774.41 million.
Given the current short-term trend, the ETF is expected to rise 20.22% during the next 3 months and, with a 90% probability hold a price between $178.01 and $203.14 at the end of this 3-month period.
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XOP Signals & Forecast
There are few to no technical positive signals at the moment. The SPDR(R) S&P(R) OIL & GAS EXPLORATION & 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 $154.73 and $154.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -7.80%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 SPDR(R) S&P(R) OIL & GAS EXPLORATION & ETF
SPDR(R) S&P(R) OIL & GAS EXPLORATION & finds support from accumulated volume at $141.42 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 $4.70 between high and low, or 3.20%. For the last week the ETF has had daily average volatility of 2.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XOP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect SPDR(R) S&P(R) OIL & GAS EXPLORATION & PRODUCTION ETF to open at $148.74, and during the day (based on 14 day Average True Range), to move between $144.84 and $151.30, which gives a possible trading interval of +/-$3.23 (+/-2.18%) up or down from last closing price. If SPDR(R) S&P(R) OIL & GAS EXPLORATION & PRODUCTION ETF takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $151.43 (2.27%) than the support at $141.42 (4.49%), 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 SPDR(R) S&P(R) OIL & GAS EXPLORATION & PRODUCTION ETF ETF A Buy?
The SPDR(R) S&P(R) OIL & GAS EXPLORATION & ETF holds several negative signals and despite the positive trend, we believe SPDR(R) S&P(R) OIL & GAS EXPLORATION & will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.213 Sell Candidate Unchanged
Predicted Opening Price for SPDR(R) S&P(R) OIL & GAS EXPLORATION & PRODUCTION ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $148.74 ( 0.455%) | $148.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XOP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 153.44 | 3.63 % | |
| R2 | 151.65 | 2.42 % | ||
| R1 | 150.54 | 1.67 % | ||
| Current price: | 148.07 | |||
| Support | S1 | 146.95 | -0.758 % | |
| S2 | 145.84 | -1.51 % | ||
| S3 | 144.04 | -2.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 159.87 | 7.97 % | |
| R2 | 157.98 | 6.69 % | ||
| R1 | 151.43 | 2.27 % | ||
| Current price | 148.07 | |||
| Support | S1 | 141.42 | -4.49% | |
| S2 | 138.01 | -6.79% | ||
| S3 | 130.74 | -11.70% |
XOP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.760 | 0.501% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $1.04 | 0.754% |
| 3 | Jan 26, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.772 | 0.537% |
| 4 | Jan 26, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.83 | 0.684% |
| 5 | Jan 26, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.95 | 0.81% |
FAQ
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