SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF Forecast
Red day on Wednesday for SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF after losing 0.677%
(Updated on Apr 24, 2024)
The SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF price fell by -0.677% on the last day (Wednesday, 24th Apr 2024) from $22.16 to $22.01. During the last trading day the ETF fluctuated 0.91% from a day low at $21.91 to a day high of $22.11. The price has been going up and down for this period, and there has been a -1.83% 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 -388 thousand shares and in total, 605 thousand shares were bought and sold for approximately $13.31 million.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.83 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -4.46% during the next 3 months and, with a 90% probability hold a price between $20.85 and $21.91 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
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.365%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SPDR(R) PORTFOLIO LONG TERM CORPORATE 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 $22.06 and $22.72. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SPDR(R) PORTFOLIO LONG TERM CORPORATE ETF
SPDR(R) PORTFOLIO LONG TERM CORPORATE finds support from accumulated volume at $21.93 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 $0.200 between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 0.744%.
Our recommended stop-loss: $20.62 (-6.30%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (SPLB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect SPDR(R) PORTFOLIO LONG TERM CORPORATE BOND ETF to open at $22.01, and during the day (based on 14 day Average True Range), to move between $21.80 and $22.22, which gives a possible trading interval of +/-$0.209 (+/-0.95%) 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 1.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.93 (0.36%) than the resistance at $22.12 (0.50%), 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(R) PORTFOLIO LONG TERM CORPORATE BOND ETF ETF A Buy?
SPDR(R) PORTFOLIO LONG TERM CORPORATE 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: -0.715 Hold/Accumulate Unchanged
Predicted Opening Price for SPDR(R) PORTFOLIO LONG TERM CORPORATE BOND ETF of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $22.01 ( 0%) | $22.01 |
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 | 22.21 | 0.91 % | |
| R2 | 22.13 | 0.562 % | ||
| R1 | 22.09 | 0.347 % | ||
| Current price: | 22.01 | |||
| Support | S1 | 21.93 | -0.347 % | |
| S2 | 21.89 | -0.562 % | ||
| S3 | 21.81 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.00 | 4.50 % | |
| R2 | 22.89 | 4.00 % | ||
| R1 | 22.12 | 0.500 % | ||
| Current price | 22.01 | |||
| Support | S1 | 21.93 | -0.363% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SPLB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.0957 | 0.423% |
| 2 | Jan 05, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.0958 | 0.412% |
| 3 | Jan 05, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.0951 | 0.410% |
| 4 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0910 | 0.385% |
| 5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.0950 | 0.419% |
FAQ
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