Spdr S&p U.s. Financials Select Sector ETF Forecast
Spdr S&p U.s. Financials Select Sector ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Spdr S&p U.s. Financials Select Sector ETF price gained 0.429% on the last trading day (Friday, 28th Jun 2024), rising from 44.34€ to 44.53€. During the last trading day the ETF fluctuated 0.698% from a day low at 44.41€ to a day high of 44.72€. The price has risen in 6 of the last 10 days and is up by 1.52% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 500 more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately 177.23€ thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Spdr S&p U.s. Financials Select Sector ETF with a 90% probability to be traded between 43.46€ and 45.46€ 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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ZPDF.F Signals & Forecast
The Spdr S&p U.s. Financials Select Sector ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 44.55€. On a fall, the ETF will find some support from the long-term average at approximately 44.24€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Spdr S&p U.s. Financials Select Sector has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, June 24, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -2.72% to 43.32€ within 25 trading days since signal was issued (Monday, July 29, 2024).
Support, Risk & Stop-loss for Spdr S&p U.s. Financials Select Sector ETF
Spdr S&p U.s. Financials Select Sector finds support from accumulated volume at 43.87€ 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 0.310€ between high and low, or 0.698%. For the last week the ETF has had daily average volatility of 0.91%.
Our recommended stop-loss: 42.77€ (-3.95%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (ZPDF.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Spdr S&p U.s. Financials Select Sector Ucits Etf to open at 44.55€, and during the day (based on 14 day Average True Range), to move between 44.16€ and 44.90€, which gives a possible trading interval of +/-0.374€ (+/-0.84%) up or down from last closing price. If Spdr S&p U.s. Financials Select Sector Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 44.68€ (0.34%) than the support at 43.87€ (1.49%), 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 S&p U.s. Financials Select Sector Ucits Etf ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Spdr S&p U.s. Financials Select Sector ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.213 Buy Candidate Upgraded
Predicted Opening Price for Spdr S&p U.s. Financials Select Sector Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 44.55€ ( 0.0449%) | 44.53€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZPDF.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.86 | 0.741% |
| R2 | 44.74 | 0.475% |
| R1 | 44.67 | 0.311% |
| Price | 44.53 | |
| S1 | 44.43 | -0.221% |
| S2 | 44.36 | -0.385% |
| S3 | 44.24 | -0.651% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.94 | 0.92% |
| R2 | 44.69 | 0.359% |
| R1 | 44.68 | 0.337% |
| Price | 44.53 | |
| S1 | 43.87 | -1.49% |
| S2 | 43.65 | -1.98% |
| S3 | 43.58 | -2.13% |
FAQ
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