Invesco Coinshares Global Blockchain ETF Forecast
Invesco Coinshares Global Blockchain ETF price ended at $94.86 on Tuesday, after gaining 1.53%.
(Updated on Jun 25, 2024)
The Invesco Coinshares Global Blockchain ETF price gained 1.53% on the last trading day (Tuesday, 25th Jun 2024), rising from $93.44 to $94.86. During the last trading day the ETF fluctuated 4.13% from a day low at $91.10 to a day high of $94.86. The price has risen in 6 of the last 10 days and is up by 1.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 749 more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $374.79 thousand.
The ETFis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $97.47 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Invesco Coinshares Global Blockchain ETF with a 90% probability to be traded between $82.62 and $97.06 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BCHN.L Signals & Forecast
The Invesco Coinshares Global Blockchain ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $95.51. On a fall, the ETF will find some support from the long-term average at approximately $92.08. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Invesco Coinshares Global Blockchain has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.69%. 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).
Support, Risk & Stop-loss for Invesco Coinshares Global Blockchain ETF
Invesco Coinshares Global Blockchain finds support from accumulated volume at $92.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $3.76 (4.13%) between high and low. For the last week, the ETF has had daily average volatility of 2.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCHN.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Invesco Coinshares Global Blockchain Ucits Etf to open at $93.61, and during the day (based on 14 day Average True Range), to move between $92.08 and $97.64, which gives a possible trading interval of +/-$2.78 (+/-2.93%) up or down from last closing price. If Invesco Coinshares Global Blockchain Ucits Etf takes out the full calculated possible swing range there will be an estimated 5.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $95.62 (0.80%) than the support at $92.64 (2.34%), 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 Invesco Coinshares Global Blockchain Ucits Etf ETF A Buy?
Invesco Coinshares Global Blockchain 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.
Current score: -1.681 Sell Candidate Unchanged
Predicted Opening Price for Invesco Coinshares Global Blockchain Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $93.61 ( 1.32%) | $94.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCHN.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 97.37 | 2.64% |
| R2 | 95.93 | 1.13% |
| R1 | 95.04 | 0.193% |
| Price | 94.86 | |
| S1 | 92.17 | -2.84% |
| S2 | 91.28 | -3.77% |
| S3 | 89.85 | -5.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 103.85 | 9.48% |
| R2 | 96.82 | 2.07% |
| R1 | 95.62 | 0.80% |
| Price | 94.86 | |
| S1 | 92.64 | -2.34% |
| S2 | 86.86 | -8.43% |
| S3 | 84.73 | -10.68% |
FAQ
Click here for our free guide on how to buy Invesco Coinshares Global Blockchain Ucits Etf ETF.
