Invesco Exchange-Traded Fund Trust II - ETF Forecast
Invesco Exchange-Traded Fund Trust II - ETF downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 16, 2024)
The Invesco Exchange-Traded Fund Trust II - ETF price fell by -0.141% on the last day (Thursday, 16th May 2024) from $21.22 to $21.19. During the last trading day the ETF fluctuated 0.142% from a day low at $21.19 to a day high of $21.22. The price has been going up and down for this period, and there has been a 0.33% gain for the last 2 weeks. 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 -5 million shares and in total, 9 million shares were bought and sold for approximately $180.58 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 Exchange-Traded Fund Trust II - ETF with a 90% probability to be traded between $21.03 and $21.27 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.
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BKLN Signals & Forecast
The Invesco Exchange-Traded Fund Trust II - 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 $21.20. On a fall, the ETF will find some support from the long-term average at approximately $21.12. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, May 15, 2024, and so far it has fallen -0.141%. Further fall is indicated until a new bottom pivot has been found. 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 Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 03, 2024.
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
The ETF had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 03, 2024.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 Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 03, 2024.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.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -1.38% to $20.90 within 45 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for Invesco Exchange-Traded Fund Trust II - ETF
Invesco Exchange-Traded Fund Trust II - finds support from accumulated volume at $21.13 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 $0.0300 between high and low, or 0.142%. For the last week the ETF has had daily average volatility of 0.142%.
Our recommended stop-loss: $20.41 (-3.69%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BKLN) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Invesco Exchange-Traded Fund Trust II - Invesco Senior Loan ETF to open at $21.20, and during the day (based on 14 day Average True Range), to move between $21.14 and $21.24, which gives a possible trading interval of +/-$0.0451 (+/-0.21%) up or down from last closing price. If Invesco Exchange-Traded Fund Trust II - Invesco Senior Loan ETF takes out the full calculated possible swing range there will be an estimated 0.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.20 (0.05%) than the support at $21.13 (0.28%), 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 Exchange-Traded Fund Trust II - Invesco Senior Loan ETF ETF A Buy?
Invesco Exchange-Traded Fund Trust II - holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.632 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco Exchange-Traded Fund Trust II - Invesco Senior Loan ETF of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $21.20 ( 0.0472%) | $21.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKLN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.23 | 0.189 % | |
| R2 | 21.22 | 0.135 % | ||
| R1 | 21.21 | 0.101 % | ||
| Current price: | 21.19 | |||
| Support | S1 | 21.19 | -0.0069 % | |
| S2 | 21.18 | -0.0403 % | ||
| S3 | 21.17 | -0.0944 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.22 | 0.142 % | |
| R2 | 21.21 | 0.0944 % | ||
| R1 | 21.20 | 0.0472 % | ||
| Current price | 21.19 | |||
| Support | S1 | 21.13 | -0.283% | |
| S2 | 21.11 | -0.378% | ||
| S3 | 21.08 | -0.519% |
BKLN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.147 | 0.700% |
| 2 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.146 | 0.696% |
| 3 | Jan 05, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.138 | 0.653% |
| 4 | Jan 05, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.137 | 0.653% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.147 | 0.698% |
FAQ
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