Spdr Refinitiv Global Convertible Bond ETF Forecast
Green day on Tuesday for Spdr Refinitiv Global Convertible Bond ETF after gaining 0.559%
(Updated on Jun 25, 2024)
The Spdr Refinitiv Global Convertible Bond ETF price gained 0.559% on the last trading day (Tuesday, 25th Jun 2024), rising from 43.08€ to 43.32€. During the last trading day the ETF fluctuated 0.730% from a day low at 43.00€ to a day high of 43.32€. The price has risen in 6 of the last 10 days and is up by 0.5% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 1 thousand shares were bought and sold for approximately 59.69€ thousand. 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 has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. 43.12€ is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach 43.82€ sometime during the next 3 months.
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ZPRC.F Signals & Forecast
The Spdr Refinitiv Global Convertible Bond 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 43.15€ and 42.90€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 2.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A buy signal from a double bottom formation was found on Friday, May 31, 2024 with a target of 43.27€. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Spdr Refinitiv Global Convertible Bond ETF
Spdr Refinitiv Global Convertible Bond finds support from accumulated volume at 43.10€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0.314€ between high and low, or 0.730%. For the last week the ETF has had daily average volatility of 0.616%
Our recommended stop-loss: 41.26€ (-4.75%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (ZPRC.F) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Spdr Refinitiv Global Convertible Bond Ucits Etf to open at 43.21€, and during the day (based on 14 day Average True Range), to move between 43.05€ and 43.58€, which gives a possible trading interval of +/-0.265€ (+/-0.61%) up or down from last closing price. If Spdr Refinitiv Global Convertible Bond Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.22% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 43.10€, some 0.217€ (0.50%) from the current price of 43.32€, our system finds the risk reward attractive.
Is Spdr Refinitiv Global Convertible Bond Ucits Etf ETF A Buy?
Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Spdr Refinitiv Global Convertible Bond ETF to perform well in the short-term period.
Current score: 2.759 Buy Candidate Unchanged
Predicted Opening Price for Spdr Refinitiv Global Convertible Bond Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| 43.21€ ( 0.242%) | 43.32€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZPRC.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 43.53 | 0.483% |
| R2 | 43.41 | 0.206% |
| R1 | 43.33 | 0.0353% |
| Price | 43.32 | |
| S1 | 43.09 | -0.519% |
| S2 | 43.02 | -0.690% |
| S3 | 42.90 | -0.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 43.32 | |
| S1 | 43.10 | -0.501% |
| S2 | 42.81 | -1.17% |
| S3 | 42.64 | -1.57% |
ZPRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Jan 11, 2024 | Jan 19, 2024 | 0.0843€ | 0% |
| 2 | Jul 13, 2023 | Jul 13, 2023 | Jul 21, 2023 | 0.0509€ | 0% |
| 3 | Jan 12, 2023 | Jan 12, 2023 | Jan 20, 2023 | 0.0421€ | 0% |
| 4 | Jul 14, 2022 | Jul 14, 2022 | Jul 22, 2022 | 0.0497€ | 0% |
| 5 | Jan 13, 2022 | Jan 13, 2022 | Jan 21, 2022 | 0.0418€ | 0% |
FAQ
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