The SPDR S&P 500 ETF Trust (NYSEARCA:SPY), which tracks the S&P 500 Index (SPX), allows an investor to hold a diversified portfolio without having to buy individual stocks. SPY stock has advanced about 16% year-to-date, partly thanks to the rally in artificial intelligence (AI) stocks. Moreover, based on technical indicators on TipRanks, SPY is a Buy near its current levels.
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SPY ETF’s Technical Indicators
According to TipRanks’ technical analysis tool, the SPY ETF stock’s 50-Day EMA (exponential moving average) is 425.76, while SPY’s price is $438.55, making it a Buy. Further, the moving average convergence divergence (MACD) indicator also signals a Buy.
Meanwhile, its RSI (Relative Strength Index) is 59.50, implying a Neutral signal. At the same time, the SPY ETF’s Williams %R points to a bullish trend.
Overall, in the one-day time frame, the SPY ETF stock is a Buy, according to TipRanks’ easy-to-read technical summary signals. This is based on 12 Bullish, six Neutral, and four Bearish signals.
Is SPY a Buy, According to Analysts?
SPY has a Moderate Buy consensus rating on TipRanks, and the average SPY stock price target of $484.02 implies 10.35% upside potential. Among the 6,320 analysts providing ratings on SPY’s 500+ holdings, 59.54% have given a Buy rating, 35.08% have assigned a Hold, and 5.38% have given a Sell.
It’s also worth noting that SPY has a low expense ratio of 0.09%, which is one of the major factors that makes the ETF attractive. Moreover, according to TipRanks’ Smart Score System, SPY has a Smart Score of 8 out of 10, which indicates that the ETF could outperform the broader market from here.