Invesco Taxable Municipal Bond ETF Forecast
Invesco Taxable Municipal Bond ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Invesco Taxable Municipal Bond ETF price fell by -0.150% on the last day (Thursday, 28th Mar 2024) from $26.59 to $26.55. During the last trading day the ETF fluctuated 0.410% from a day low at $26.52 to a day high of $26.63. The price has risen in 6 of the last 10 days and is up by 0.57% over the past 2 weeks. Volume has increased on the last day by 79 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 219 thousand shares were bought and sold for approximately $5.81 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco Taxable Municipal Bond ETF with a 90% probability to be traded between $25.82 and $26.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BAB Signals & Forecast
The Invesco Taxable Municipal Bond ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $26.44 and $26.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 1.03%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Invesco Taxable Municipal Bond ETF
Invesco Taxable Municipal Bond finds support from accumulated volume at $26.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.109 between high and low, or 0.410%. For the last week the ETF has had daily average volatility of 0.492%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BAB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco Taxable Municipal Bond ETF to open at $26.57, and during the day (based on 14 day Average True Range), to move between $26.38 and $26.72, which gives a possible trading interval of +/-$0.175 (+/-0.66%) up or down from last closing price. If Invesco Taxable Municipal Bond ETF takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.50 (0.19%) than the resistance at $26.71 (0.60%), 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 Taxable Municipal Bond ETF ETF A Buy?
Invesco Taxable Municipal Bond 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: -1.424 Sell Candidate Downgraded
Predicted Opening Price for Invesco Taxable Municipal Bond ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$26.57 ( 0.0611%) | $26.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.67 | 0.471 % | |
R2 | 26.63 | 0.314 % | ||
R1 | 26.61 | 0.218 % | ||
Current price: | 26.55 | |||
Support | S1 | 26.52 | -0.0953 % | |
S2 | 26.50 | -0.192 % | ||
S3 | 26.46 | -0.348 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.74 | 0.716 % | |
R2 | 26.72 | 0.640 % | ||
R1 | 26.71 | 0.603 % | ||
Current price | 26.55 | |||
Support | S1 | 26.50 | -0.188% | |
S2 | 26.47 | -0.301% | ||
S3 | 26.40 | -0.565% |
BAB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0839 | 0.317% |
2 | Jan 05, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0813 | 0.307% |
3 | Jan 05, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0826 | 0.310% |
4 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0860 | 0.320% |
5 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | $0.0860 | 0.336% |
FAQ
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