Invesco Golden Dragon China ETF Forecast
Red day on Wednesday for Invesco Golden Dragon China
(Updated on Jun 12, 2024)
The Invesco Golden Dragon China ETF price fell by -0.362% on the last day (Wednesday, 12th Jun 2024) from $24.85 to $24.76. During the last trading day the ETF fluctuated 0.81% from a day low at $24.73 to a day high of $24.93. The price has fallen in 7 of the last 10 days and is down by -3.36% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -8 thousand shares and in total, 26 thousand shares were bought and sold for approximately $655.92 thousand.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.42 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 5.52% during the next 3 months and, with a 90% probability hold a price between $25.77 and $30.19 at the end of this 3-month period.
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PGJ Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Golden Dragon China ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $25.23 and $26.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -12.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Invesco Golden Dragon China ETF
Invesco Golden Dragon China finds support from accumulated volume at $24.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.200 between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 1.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGJ) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect Invesco Golden Dragon China ETF to open at $24.81, and during the day (based on 14 day Average True Range), to move between $24.28 and $25.24, which gives a possible trading interval of +/-$0.476 (+/-1.92%) up or down from last closing price. If Invesco Golden Dragon China ETF takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.51 (1.01%) than the resistance at $25.48 (2.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Invesco Golden Dragon China ETF ETF A Buy?
The Invesco Golden Dragon China ETF holds several negative signals and despite the positive trend, we believe Invesco Golden Dragon China will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.316 Sell Candidate Unchanged
Predicted Opening Price for Invesco Golden Dragon China ETF of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| $24.81 ( 0.188%) | $24.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.01 | 1.00% |
| R2 | 24.93 | 0.688% |
| R1 | 24.88 | 0.497% |
| Price | 24.76 | |
| S1 | 24.73 | -0.120% |
| S2 | 24.68 | -0.311% |
| S3 | 24.61 | -0.619% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.99 | 9.01% |
| R2 | 26.44 | 6.79% |
| R1 | 25.48 | 2.91% |
| Price | 24.76 | |
| S1 | 24.51 | -1.01% |
| S2 | 24.07 | -2.79% |
| S3 | 23.54 | -4.93% |
PGJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.396 | 1.59% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.144 | 0.534% |
| 3 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0880 | 0.335% |
| 4 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0230 | 0.0811% |
| 5 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.0830 | 0.303% |
FAQ
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