SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF Forecast
Evaluation of SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF downgraded after the last trading session.
(Updated on Mar 28, 2024)
The SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF price gained 0.0861% on the last trading day (Thursday, 28th Mar 2024), rising from $23.22 to $23.24. During the last trading day the ETF fluctuated 0.582% from a day low at $23.19 to a day high of $23.32. The price has risen in 7 of the last 10 days and is up by 1.57% over the past 2 weeks. Volume fell on the last day by -99 thousand shares and in total, 295 thousand shares were bought and sold for approximately $6.86 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 the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $23.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -2.35% during the next 3 months and, with a 90% probability hold a price between $21.84 and $22.89 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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SPLB Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -0.215%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The SPDR(R) PORTFOLIO LONG TERM CORPORATE 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 $23.08 and $22.98. A breakdown below any of these levels will issue sell signals. 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. The ETF had a Golden Star Signal on Thursday, March 21, 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 Thursday, March 21, 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.
Support, Risk & Stop-loss for SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF
SPDR(R) PORTFOLIO LONG TERM CORPORATE finds support from accumulated volume at $23.20 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 $0.135 between high and low, or 0.582%. For the last week the ETF has had daily average volatility of 0.612%.
Our recommended stop-loss: $22.41 (-3.55%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (SPLB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SPDR(R) PORTFOLIO LONG TERM CORPORATE BOND ETF to open at $23.25, and during the day (based on 14 day Average True Range), to move between $23.07 and $23.41, which gives a possible trading interval of +/-$0.173 (+/-0.74%) up or down from last closing price. If SPDR(R) PORTFOLIO LONG TERM CORPORATE BOND ETF takes out the full calculated possible swing range there will be an estimated 1.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.26 (0.09%) than the support at $23.20 (0.17%), 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(R) PORTFOLIO LONG TERM CORPORATE BOND ETF ETF A Buy?
SPDR(R) PORTFOLIO LONG TERM CORPORATE holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.666 Hold/Accumulate Downgraded
Predicted Opening Price for SPDR(R) PORTFOLIO LONG TERM CORPORATE BOND ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$23.25 ( 0.0359%) | $23.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPLB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.38 | 0.617 % | |
R2 | 23.33 | 0.395 % | ||
R1 | 23.30 | 0.258 % | ||
Current price: | 23.24 | |||
Support | S1 | 23.20 | -0.186 % | |
S2 | 23.16 | -0.323 % | ||
S3 | 23.11 | -0.545 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.49 | 1.08 % | |
R2 | 23.33 | 0.387 % | ||
R1 | 23.26 | 0.0861 % | ||
Current price | 23.24 | |||
Support | S1 | 23.20 | -0.172% | |
S2 | 23.00 | -1.03% | ||
S3 | 22.89 | -1.51% |
SPLB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 05, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.0958 | 0.412% |
2 | Jan 05, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.0951 | 0.410% |
3 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0910 | 0.385% |
4 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.0950 | 0.419% |
5 | Jan 17, 2023 | Nov 01, 2023 | Nov 07, 2023 | $0.0940 | 0.444% |
FAQ
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