SPDR S&P Retail ETF Forecast
Green day on Tuesday for SPDR S&P Retail ETF after gaining 2.20%
(Updated on Apr 23, 2024)
The SPDR S&P Retail ETF price gained 2.20% on the last trading day (Tuesday, 23rd Apr 2024), rising from $71.47 to $73.04. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.76% from a day low at $71.85 to a day high of $73.12. The price has risen in 6 of the last 10 days but is still down by -2.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 133 thousand more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $464.29 million.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.42% during the next 3 months and, with a 90% probability hold a price between $74.02 and $83.45 at the end of this 3-month period.
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XRT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.35%. 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. The SPDR S&P Retail ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $74.93. On a fall, the ETF will find some support from the short-term average at $71.28. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR S&P Retail ETF
SPDR S&P Retail finds support from accumulated volume at $72.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.27 between high and low, or 1.76%. For the last week, the ETF has had daily average volatility of 1.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XRT) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect SPDR S&P Retail ETF to open at $72.67, and during the day (based on 14 day Average True Range), to move between $71.76 and $74.32, which gives a possible trading interval of +/-$1.28 (+/-1.76%) up or down from last closing price. If SPDR S&P Retail ETF takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $73.36 (0.44%) than the support at $72.70 (0.47%), 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 S&P Retail ETF ETF A Buy?
SPDR S&P Retail 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.
Current score: -1.306 Sell Candidate Unchanged
Predicted Opening Price for SPDR S&P Retail ETF of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$72.67 ( 0.509%) | $73.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XRT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 73.93 | 1.22 % | |
R2 | 73.45 | 0.561 % | ||
R1 | 73.15 | 0.153 % | ||
Current price: | 73.04 | |||
Support | S1 | 72.19 | -1.17 % | |
S2 | 71.89 | -1.58 % | ||
S3 | 71.40 | -2.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 75.48 | 3.34 % | |
R2 | 75.26 | 3.04 % | ||
R1 | 73.36 | 0.438 % | ||
Current price | 73.04 | |||
Support | S1 | 72.70 | -0.465% | |
S2 | 72.00 | -1.42% | ||
S3 | 70.67 | -3.24% |
XRT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.150 | 0.192% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.326 | 0.461% |
3 | Jan 26, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.171 | 0.286% |
4 | Jan 26, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.310 | 0.501% |
5 | Jan 26, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.205 | 0.342% |
FAQ
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