SPDR S&P Regional Banking ETF Forecast
SPDR S&P Regional Banking ETF upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The SPDR S&P Regional Banking ETF price gained 1.17% on the last trading day (Tuesday, 23rd Apr 2024), rising from $48.19 to $48.76. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.50% from a day low at $47.87 to a day high of $49.06. The price has risen in 6 of the last 10 days but is still down by -1.21% for this period. Volume fell on the last day by -601 thousand shares and in total, 13 million shares were bought and sold for approximately $625.12 million. 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 lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -4.22% during the next 3 months and, with a 90% probability hold a price between $43.66 and $48.75 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KRE Signals & Forecast
The SPDR S&P Regional Banking ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.90 and $48.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.55%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SPDR S&P Regional Banking ETF
SPDR S&P Regional Banking finds support from accumulated volume at $48.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.20 between high and low, or 2.50%. For the last week, the ETF has had daily average volatility of 2.40%.
Our recommended stop-loss: $47.06 (-3.48%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (KRE) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect SPDR S&P Regional Banking ETF to open at $48.56, and during the day (based on 14 day Average True Range), to move between $47.60 and $49.91, which gives a possible trading interval of +/-$1.16 (+/-2.37%) up or down from last closing price. If SPDR S&P Regional Banking ETF takes out the full calculated possible swing range there will be an estimated 4.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.38 (0.77%) than the resistance at $49.46 (1.45%), 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 S&P Regional Banking ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.085 Buy Candidate Upgraded
Predicted Opening Price for SPDR S&P Regional Banking ETF of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $48.56 ( 0.397%) | $48.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.76 | 2.06 % | |
| R2 | 49.30 | 1.12 % | ||
| R1 | 49.02 | 0.542 % | ||
| Current price: | 48.76 | |||
| Support | S1 | 48.10 | -1.34 % | |
| S2 | 47.82 | -1.92 % | ||
| S3 | 47.36 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.67 | 1.88 % | |
| R2 | 49.53 | 1.59 % | ||
| R1 | 49.46 | 1.45 % | ||
| Current price | 48.76 | |||
| Support | S1 | 48.38 | -0.769% | |
| S2 | 48.17 | -1.20% | ||
| S3 | 47.60 | -2.37% |
KRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.379 | 0.764% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.431 | 0.83% |
| 3 | Jan 19, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.375 | 0.91% |
| 4 | Jan 19, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.399 | 1.01% |
| 5 | Jan 19, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.363 | 0.86% |
FAQ
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