Xtrackers S&P 500 INVERSE DAILY SWAP ETF Forecast

Xtrackers S&P 500 INVERSE DAILY SWAP ETF price down 0.285% on Thursday
(Updated on Apr 18, 2024)

XSPS.L Signals & Forecast

The Xtrackers S&P 500 INVERSE DAILY SWAP 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 £586.20 and £569.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -0.285%. Further fall is indicated until a new bottom pivot has been found. 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 Xtrackers S&P 500 INVERSE DAILY SWAP ETF

Xtrackers S&P 500 INVERSE DAILY SWAP finds support from accumulated volume at £585.00 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 £4.70 (0.791%) between high and low. For the last week, the ETF has had daily average volatility of 1.13%.

The Xtrackers S&P 500 INVERSE DAILY SWAP ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: £573.42 (-3.45%) (This ETF has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (XSPS.L) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C to open at £595.47, and during the day (based on 14 day Average True Range), to move between £587.50 and £600.30, which gives a possible trading interval of +/-£6.40 (+/-1.08%) up or down from last closing price. If Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C takes out the full calculated possible swing range there will be an estimated 2.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £595.60 (0.29%) than the support at £585.00 (1.50%), 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 Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C ETF A Buy?

Xtrackers S&P 500 INVERSE DAILY SWAP 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.

Current score: -0.011 Hold/Accumulate Unchanged

Predicted Opening Price for Xtrackers S&P 500 INVERSE DAILY SWAP UCITS ETF Capitalisation 1C of Friday, April 19, 2024

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