Invesco Coinshares Global Blockchain ETF Forecast

Evaluation of Invesco Coinshares Global Blockchain ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)

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 $94.42. On a fall, the ETF will find some support from the long-term average at approximately $92.39. 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. 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 -4.89%. 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). Invesco Coinshares Global Blockchain gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

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 $1.99 (2.16%) between high and low. For the last week, the ETF has had daily average volatility of 2.20%.

Our recommended stop-loss: $88.09 (-4.98%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (BCHN.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco Coinshares Global Blockchain Ucits Etf to open at $93.16, and during the day (based on 14 day Average True Range), to move between $90.22 and $95.20, which gives a possible trading interval of +/-$2.49 (+/-2.69%) 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 5.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $92.64 (0.08%) than the resistance at $95.62 (3.14%), 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 Coinshares Global Blockchain Ucits Etf ETF A Buy?

Invesco Coinshares Global Blockchain holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Invesco Coinshares Global Blockchain Ucits Etf of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.