SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF Stock Forecast
SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 15, 2024)
The SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock price fell by -1.74% on the last day (Monday, 15th Apr 2024) from £115.00 to £113.00. During the last trading day the stock fluctuated 3.13% from a day low at £112.00 to a day high of £115.50. The price has fallen in 5 of the last 10 days but is still up by 6.6% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 112 thousand shares were bought and sold for approximately £12.61 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.58% during the next 3 months and, with a 90% probability hold a price between £106.75 and £140.55 at the end of this 3-month period.
XAR.L Signals & Forecast
The SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF stock 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 £107.50 and £107.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 11.33%. 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. 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) S&P(R) AEROSPACE & DEFENSE ETF stock
SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF finds support from accumulated volume at £107.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £3.50 between high and low, or 3.13%. For the last week, the stock has had daily average volatility of 5.86%.
Our recommended stop-loss: £108.59 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (XAR.L) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF to open at £113.50, and during the day (based on 14 day Average True Range), to move between £107.55 and £118.45, which gives a possible trading interval of +/-£5.45 (+/-4.82%) up or down from last closing price. If SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF takes out the full calculated possible swing range there will be an estimated 9.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £115.00 (1.77%) than the support at £107.50 (4.87%), 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) S&P(R) AEROSPACE & DEFENSE ETF stock A Buy?
SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF 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 stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.354 Hold/Accumulate Downgraded
Predicted Opening Price for SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| £113.50 ( 0.442%) | £113.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 117.00 | 3.54 % | |
| R2 | 115.66 | 2.36 % | ||
| R1 | 114.84 | 1.63 % | ||
| Current price: | 113.00 | |||
| Support | S1 | 112.16 | -0.741 % | |
| S2 | 111.34 | -1.47 % | ||
| S3 | 110.00 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 130.50 | 15.49 % | |
| R2 | 122.50 | 8.41 % | ||
| R1 | 115.00 | 1.77 % | ||
| Current price | 113.00 | |||
| Support | S1 | 107.50 | -4.87% | |
| S2 | 105.00 | -7.08% | ||
| S3 | 100.50 | -11.06% |
XAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2018 | Sep 13, 2018 | Oct 12, 2018 | £1.00 | 0.647% |
| 2 | Mar 21, 2018 | May 31, 2018 | Jun 29, 2018 | £6.80 | 2.84% |
| 3 | Sep 06, 2017 | Sep 14, 2017 | Oct 12, 2017 | £3.40 | 0.739% |
| 4 | Mar 22, 2017 | May 25, 2017 | Jun 26, 2017 | £6.70 | 1.86% |
| 5 | Aug 24, 2016 | Sep 01, 2016 | Sep 30, 2016 | £3.30 | 0.660% |
FAQ
Click here for our free guide on how to buy SPDR(R) S&P(R) AEROSPACE & DEFENSE ETF Stock.
