Xtrackers S&P 500 INVERSE DAILY SWAP ETF Forecast
Evaluation of Xtrackers S&P 500 INVERSE DAILY SWAP ETF downgraded after the last trading session.
(Updated on May 01, 2024)
The Xtrackers S&P 500 INVERSE DAILY SWAP ETF price gained 1.50% on the last trading day (Wednesday, 1st May 2024), rising from £588.50 to £597.35. During the last trading day the ETF fluctuated 0.415% from a day low at £596.22 to a day high of £598.70. The price has been going up and down for this period, and there has been a 0.29% gain for the last 2 weeks. Volume fell on the last day by -662 thousand shares and in total, 64 thousand shares were bought and sold for approximately £38.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Xtrackers S&P 500 INVERSE DAILY SWAP ETF with a 90% probability to be traded between £565.41 and £615.44 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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XSPS.L Signals & Forecast
The Xtrackers S&P 500 INVERSE DAILY SWAP 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 £592.39 and £576.36. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 22, 2024, and so far it has fallen -1.90%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Xtrackers S&P 500 INVERSE DAILY SWAP ETF
Xtrackers S&P 500 INVERSE DAILY SWAP finds support from accumulated volume at £588.50 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 £2.48 (0.415%) between high and low. For the last week, the ETF has had daily average volatility of 0.82%.
Our recommended stop-loss: £574.80 (-3.78%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (XSPS.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C to open at £597.42, and during the day (based on 14 day Average True Range), to move between £589.75 and £604.95, which gives a possible trading interval of +/-£7.60 (+/-1.27%) up or down from last closing price. If Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £599.60 (0.38%) than the support at £588.50 (1.48%), 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 Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C ETF A Buy?
Xtrackers S&P 500 INVERSE DAILY SWAP 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.967 Hold/Accumulate Downgraded
Predicted Opening Price for Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
£597.42 ( 0.0125%) | £597.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XSPS.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 599.90 | 0.427 % | |
R2 | 598.95 | 0.269 % | ||
R1 | 598.37 | 0.171 % | ||
Current price: | 597.35 | |||
Support | S1 | 596.48 | -0.146 % | |
S2 | 595.89 | -0.244 % | ||
S3 | 594.95 | -0.402 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 608.95 | 1.94 % | |
R2 | 603.00 | 0.95 % | ||
R1 | 599.60 | 0.377 % | ||
Current price | 597.35 | |||
Support | S1 | 588.50 | -1.48% | |
S2 | 564.15 | -5.56% | ||
S3 | 562.60 | -5.82% |
FAQ
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