SPDR Blmbg Barclays High Yield Bd ETF Forecast

SPDR Blmbg Barclays High Yield Bd ETF price ended at $92.81 on Thursday, after gaining 0.129%.
(Updated on Apr 18, 2024)

JNK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.259%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR Blmbg Barclays High Yield Bd 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 $93.05 and $94.30. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-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.

Support, Risk & Stop-loss for SPDR Blmbg Barclays High Yield Bd ETF

SPDR Blmbg Barclays High Yield Bd finds support from accumulated volume at $92.69 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 $0.315 between high and low, or 0.340%. For the last week the ETF has had daily average volatility of 0.430%.

SPDR Blmbg Barclays High Yield Bd is oversold on RSI14 (20). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $87.24 (-6.01%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (JNK) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect SPDR Blmbg Barclays High Yield Bd ETF to open at $92.75, and during the day (based on 14 day Average True Range), to move between $92.38 and $93.24, which gives a possible trading interval of +/-$0.428 (+/-0.46%) up or down from last closing price. If SPDR Blmbg Barclays High Yield Bd ETF takes out the full calculated possible swing range there will be an estimated 0.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $92.69 (0.13%) than the resistance at $94.38 (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SPDR Blmbg Barclays High Yield Bd ETF ETF A Buy?

SPDR Blmbg Barclays High Yield Bd 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.

Current score: 0.064 Hold/Accumulate Unchanged

Predicted Opening Price for SPDR Blmbg Barclays High Yield Bd ETF of Friday, April 19, 2024

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