THE CONSUMER DISCRETIONARY SELECT SECTOR ETF Forecast

Weaker technical forecast for THE CONSUMER DISCRETIONARY SELECT SECTOR as ETF downgraded to Sell Candidate.
(Updated on Apr 26, 2024)

XLY Signals & Forecast

There are mixed signals in the ETF today. The THE CONSUMER DISCRETIONARY SELECT SECTOR ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $178.51. On a fall, the ETF will find some support from the short-term average at $172.64. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.62%. 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.

Support, Risk & Stop-loss for THE CONSUMER DISCRETIONARY SELECT SECTOR ETF

THE CONSUMER DISCRETIONARY SELECT SECTOR finds support from accumulated volume at $174.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $2.41 (1.38%) between high and low. For the last week, the ETF has had daily average volatility of 1.62%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (XLY) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND to open at $175.90, and during the day (based on 14 day Average True Range), to move between $173.23 and $178.59, which gives a possible trading interval of +/-$2.68 (+/-1.52%) up or down from last closing price. If THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $177.32 (0.80%) than the support at $174.21 (0.97%), 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 THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND ETF A Buy?

THE CONSUMER DISCRETIONARY SELECT SECTOR holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.348 Sell Candidate Downgraded

Predicted Opening Price for THE CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND of Monday, April 29, 2024

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