SPDR Dow Jones Industrial Average ETF Forecast
SPDR Dow Jones Industrial Average ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The SPDR Dow Jones Industrial Average ETF price gained 0.500% on the last trading day (Friday, 19th Apr 2024), rising from $377.88 to $379.77. During the last trading day the ETF fluctuated 0.82% from a day low at $377.92 to a day high of $381.01. The price has fallen in 6 of the last 10 days and is down by -2.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 614 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $1.90 billion.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $377.59 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SPDR Dow Jones Industrial Average ETF with a 90% probability to be traded between $380.92 and $402.12 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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DIA Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.636%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR Dow Jones Industrial Average ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $388.47. On a fall, the ETF will find some support from the short-term average at $379.27. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR Dow Jones Industrial Average ETF
SPDR Dow Jones Industrial Average finds support from accumulated volume at $377.88 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 $3.09 between high and low, or 0.82%. For the last week the ETF has had daily average volatility of 1.13%.
SPDR Dow Jones Industrial Average is oversold on RSI14 (22). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $355.63 (-6.36%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 22 which reduces the risk some. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (DIA) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect SPDR Dow Jones Industrial Average ETF to open at $379.57, and during the day (based on 14 day Average True Range), to move between $375.79 and $383.75, which gives a possible trading interval of +/-$3.98 (+/-1.05%) up or down from last closing price. If SPDR Dow Jones Industrial Average ETF takes out the full calculated possible swing range there will be an estimated 2.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $379.87 (0.03%) than the support at $377.88 (0.50%), 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 Dow Jones Industrial Average 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 Dow Jones Industrial Average 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: 1.906 Buy Candidate Upgraded
Predicted Opening Price for SPDR Dow Jones Industrial Average ETF of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$379.57 ( 0.0535%) | $379.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 382.66 | 0.760 % | |
R2 | 381.48 | 0.449 % | ||
R1 | 380.75 | 0.257 % | ||
Current price: | 379.77 | |||
Support | S1 | 378.39 | -0.364 % | |
S2 | 377.66 | -0.556 % | ||
S3 | 376.48 | -0.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 382.87 | 0.82 % | |
R2 | 380.07 | 0.0790 % | ||
R1 | 379.87 | 0.0263 % | ||
Current price | 379.77 | |||
Support | S1 | 377.88 | -0.498% | |
S2 | 377.45 | -0.611% | ||
S3 | 377.37 | -0.632% |
DIA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Apr 15, 2024 | $0.93 | 0.247% |
2 | Jan 02, 2024 | Feb 16, 2024 | Mar 11, 2024 | $0.612 | 0.158% |
3 | Jan 02, 2024 | Jan 19, 2024 | Feb 12, 2024 | $0.213 | 0.0548% |
4 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.83 | 0.224% |
5 | Nov 17, 2023 | Nov 17, 2023 | Nov 17, 2023 | $0.707 | 0.202% |
FAQ
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