Invesco Taxable Municipal Bond ETF Forecast
Invesco Taxable Municipal Bond ETF downgraded to Sell Candidate
(Updated on Jun 28, 2024)
The Invesco Taxable Municipal Bond ETF price fell by -0.565% on the last day (Friday, 28th Jun 2024) from $26.53 to $26.38. During the last trading day the ETF fluctuated 0.91% from a day low at $26.37 to a day high of $26.61. The price has fallen in 6 of the last 10 days and is down by -1.42% 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 -9 thousand shares and in total, 124 thousand shares were bought and sold for approximately $3.27 million.
The ETF lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.72% during the next 3 months and, with a 90% probability hold a price between $26.91 and $27.65 at the end of this 3-month period.
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BAB Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Taxable Municipal Bond ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $26.61 and $26.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -1.64%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The ETF had a Golden Star Signal on Friday, May 31, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Friday, May 31, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Invesco Taxable Municipal Bond ETF
Invesco Taxable Municipal Bond finds support from accumulated volume at $26.25 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 $0.241 between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 0.390%.
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 $26.45, and during the day (based on 14 day Average True Range), to move between $26.23 and $26.53, which gives a possible trading interval of +/-$0.151 (+/-0.57%) 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 1.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $26.25 (0.49%) than the resistance at $26.56 (0.68%), 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?
The Invesco Taxable Municipal Bond ETF holds several negative signals and despite the positive trend, we believe Invesco Taxable Municipal Bond will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -1.882 Sell Candidate Downgraded
Predicted Opening Price for Invesco Taxable Municipal Bond ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $26.45 ( 0.267%) | $26.38 |
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 | |
|---|---|---|
| R3 | 26.69 | 1.18% |
| R2 | 26.60 | 0.83% |
| R1 | 26.54 | 0.616% |
| Price | 26.38 | |
| S1 | 26.36 | -0.0824% |
| S2 | 26.30 | -0.298% |
| S3 | 26.21 | -0.647% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.82 | 1.67% |
| R2 | 26.70 | 1.21% |
| R1 | 26.56 | 0.682% |
| Price | 26.38 | |
| S1 | 26.25 | -0.493% |
| S2 | 26.06 | -1.21% |
| S3 | 25.77 | -2.31% |
BAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | May 20, 2024 | May 24, 2024 | $0.0899 | 0.343% |
| 2 | Jan 05, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.0932 | 0.362% |
| 3 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0839 | 0.317% |
| 4 | Jan 05, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0813 | 0.307% |
| 5 | Jan 05, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0826 | 0.310% |
FAQ
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