SPDR(R) S&P(R) TRANSPORTATION SPDR(R) ETF Forecast

Red day on Wednesday for SPDR(R) S&P(R) TRANSPORTATION SPDR(R) ETF after losing 0.146%
(Updated on May 01, 2024)

XTN Signals & Forecast

There are few to no technical positive signals at the moment. The SPDR(R) S&P(R) TRANSPORTATION SPDR(R) ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $77.39 and $80.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -10.98%. 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). SPDR(R) S&P(R) TRANSPORTATION SPDR(R) gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, March 28, 2024 with a target of $78.62. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.

Support, Risk & Stop-loss for SPDR(R) S&P(R) TRANSPORTATION SPDR(R) ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

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 $1.62 between high and low, or 2.16%. For the last week, the ETF has had daily average volatility of 1.43%.

SPDR(R) S&P(R) TRANSPORTATION SPDR(R) is oversold on RSI14 (24). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XTN) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect SPDR(R) S&P(R) TRANSPORTATION ETF SPDR(R) S&P(R) TRANSPORTATION ETF to open at $75.79, and during the day (based on 14 day Average True Range), to move between $74.08 and $76.84, which gives a possible trading interval of +/-$1.38 (+/-1.83%) up or down from last closing price. If SPDR(R) S&P(R) TRANSPORTATION ETF SPDR(R) S&P(R) TRANSPORTATION ETF takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $82.39, some $6.93 (9.18%) from the current price of $75.46, our system finds the risk reward not very attractive.

Is SPDR(R) S&P(R) TRANSPORTATION ETF SPDR(R) S&P(R) TRANSPORTATION ETF ETF A Buy?

SPDR(R) S&P(R) TRANSPORTATION SPDR(R) holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -3.481 Sell Candidate Unchanged

Predicted Opening Price for SPDR(R) S&P(R) TRANSPORTATION ETF SPDR(R) S&P(R) TRANSPORTATION ETF of Thursday, May 2, 2024

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