THE UTILITIES SELECT SECTOR SPDR FUND ETF Forecast
THE UTILITIES SELECT SECTOR SPDR FUND ETF upgraded to Strong Buy Candidate.
(Updated on Mar 28, 2024)
The THE UTILITIES SELECT SECTOR SPDR FUND ETF price gained 0.690% on the last trading day (Thursday, 28th Mar 2024), rising from $65.20 to $65.65. During the last trading day the ETF fluctuated 1.13% from a day low at $65.02 to a day high of $65.76. The price has risen in 7 of the last 10 days and is up by 3.6% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 14 million shares were bought and sold for approximately $902.37 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 ETFis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $66.03 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect THE UTILITIES SELECT SECTOR SPDR FUND ETF with a 90% probability to be traded between $61.82 and $67.16 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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XLU Signals & Forecast
The THE UTILITIES SELECT SECTOR SPDR FUND 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 $64.28 and $62.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 24, 2024, and so far it has risen 9.51%. 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 THE UTILITIES SELECT SECTOR SPDR FUND ETF
THE UTILITIES SELECT SECTOR SPDR FUND finds support from accumulated volume at $62.61 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 $0.735 between high and low, or 1.13%. For the last week the ETF has had daily average volatility of 1.28%.
Our recommended stop-loss: $63.55 (-3.20%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (XLU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND to open at $65.48, and during the day (based on 14 day Average True Range), to move between $64.73 and $66.57, which gives a possible trading interval of +/-$0.92 (+/-1.39%) up or down from last closing price. If THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND takes out the full calculated possible swing range there will be an estimated 2.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $62.61, some $3.04 (4.63%) from the current price of $65.65, our system finds the risk reward attractive.
Is THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND ETF A Buy?
THE UTILITIES SELECT SECTOR SPDR FUND holds several positive signals and is considered to be a good choice at current levels. We expect the THE UTILITIES SELECT SECTOR SPDR FUND ETF to perform great in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.567 Strong Buy Candidate Upgraded
Predicted Opening Price for THE UTILITIES SELECT SECTOR SPDR FUND THE UTILITIES SELECT SECTOR SPDR FUND of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$65.48 ( 0.267%) | $65.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 66.21 | 0.85 % | |
R2 | 65.93 | 0.425 % | ||
R1 | 65.76 | 0.161 % | ||
Current price: | 65.65 | |||
Support | S1 | 65.19 | -0.694 % | |
S2 | 65.02 | -0.96 % | ||
S3 | 64.74 | -1.39 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 65.65 | |||
Support | S1 | 62.61 | -4.63% | |
S2 | 61.72 | -5.99% | ||
S3 | 61.45 | -6.40% |
XLU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 21, 2024 | $0.520 | 0.81% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.597 | 0.94% |
3 | Jan 17, 2023 | Sep 18, 2023 | Sep 21, 2023 | $0.522 | 0.82% |
4 | Jan 17, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.537 | 0.83% |
5 | Jan 17, 2023 | Mar 20, 2023 | Mar 23, 2023 | $0.490 | 0.769% |
FAQ
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