S S&P/ASX 300 High Yield Plus ETF Forecast
S S&P/ASX 300 High Yield Plus ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The S S&P/ASX 300 High Yield Plus ETF price fell by -1.04% on the last day (Friday, 28th Jun 2024) from A$8.65 to A$8.56. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.584% from a day low at A$8.56 to a day high of A$8.61. The price has been going up and down for this period, and there has been a -0.81% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -4 thousand shares and in total, 6 thousand shares were bought and sold for approximately A$55.27 thousand.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at A$8.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect S S&P/ASX 300 High Yield Plus ETF with a 90% probability to be traded between A$8.46 and A$8.82 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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ZYAU.AX Signals & Forecast
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. The S S&P/ASX 300 High Yield Plus 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 A$8.66 and A$8.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -2.62%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for S S&P/ASX 300 High Yield Plus ETF
S S&P/ASX 300 High Yield Plus finds support from accumulated volume at A$8.54 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 A$0.0500 between high and low, or 0.584%. For the last week the ETF has had daily average volatility of 0.649%
Our recommended stop-loss: A$8.19 (-4.38%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ZYAU.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ETFS S&P/ASX 300 High Yield Plus ETF to open at A$8.58, and during the day (based on 14 day Average True Range), to move between A$8.48 and A$8.64, which gives a possible trading interval of +/-A$0.0750 (+/-0.88%) up or down from last closing price. If ETFS S&P/ASX 300 High Yield Plus ETF takes out the full calculated possible swing range there will be an estimated 1.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at A$8.54 (0.23%) than the resistance at A$8.63 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ETFS S&P/ASX 300 High Yield Plus ETF ETF A Buy?
S S&P/ASX 300 High Yield Plus holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.321 Hold/Accumulate Upgraded
Predicted Opening Price for ETFS S&P/ASX 300 High Yield Plus ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$8.58 ( 0.195%) | A$8.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZYAU.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.63 | 0.779% |
| R2 | 8.61 | 0.556% |
| R1 | 8.60 | 0.418% |
| Price | 8.56 | |
| S1 | 8.56 | -0.0284% |
| S2 | 8.55 | -0.166% |
| S3 | 8.53 | -0.389% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.76 | 2.34% |
| R2 | 8.65 | 1.05% |
| R1 | 8.63 | 0.82% |
| Price | 8.56 | |
| S1 | 8.54 | -0.234% |
| S2 | 0 | - |
| S3 | 0 | - |
ZYAU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 16, 2024 | A$0.101 | 1.18% |
| 2 | Dec 29, 2023 | Dec 29, 2023 | Dec 29, 2023 | A$0.0767 | 0.90% |
| 3 | Sep 29, 2023 | Sep 29, 2023 | Sep 29, 2023 | A$0.182 | 2.26% |
| 4 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | A$0.195 | 2.45% |
| 5 | Mar 31, 2023 | Mar 31, 2023 | Mar 31, 2023 | A$0.149 | 1.79% |
FAQ
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