Invesco Bulletshares (r) 2024 Municipal ETF Forecast
Evaluation of Invesco Bulletshares (r) 2024 Municipal ETF downgraded after the last trading session.
(Updated on Jun 17, 2024)
The Invesco Bulletshares (r) 2024 Municipal ETF price fell by -0.121% on the last day (Monday, 17th Jun 2024) from $24.84 to $24.81. During the last trading day the ETF fluctuated 0.201% from a day low at $24.80 to a day high of $24.85. The price has risen in 5 of the last 10 days and is up by 0.2% over the past 2 weeks. Volume has increased on the last day by 3 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, 20 thousand shares were bought and sold for approximately $486.50 thousand.
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 Bulletshares (r) 2024 Municipal ETF with a 90% probability to be traded between $24.78 and $24.93 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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BSMO Signals & Forecast
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. The Invesco Bulletshares (r) 2024 Municipal 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 $24.82 and $24.81. 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 -0.121%. Further fall is indicated until a new bottom pivot has been found. Invesco Bulletshares (r) 2024 Municipal 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". The ETF had a Golden Star Signal on Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 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 Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 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 Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, April 16, 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 Friday, June 14, 2024 and based on theory for this formation the price should fall by -0.610% to $24.66 within 23 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Invesco Bulletshares (r) 2024 Municipal ETF
Invesco Bulletshares (r) 2024 Municipal finds support from accumulated volume at $24.78 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 $0.0499 between high and low, or 0.201%. For the last week the ETF has had daily average volatility of 0.182%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BSMO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Invesco Bulletshares (r) 2024 Municipal Bond Etf to open at $24.82, and during the day (based on 14 day Average True Range), to move between $24.76 and $24.86, which gives a possible trading interval of +/-$0.0529 (+/-0.21%) up or down from last closing price. If Invesco Bulletshares (r) 2024 Municipal Bond 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 $24.82 (0.02%) than the support at $24.78 (0.12%), 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 Bulletshares (r) 2024 Municipal Bond Etf ETF A Buy?
Invesco Bulletshares (r) 2024 Municipal holds several negative signals and is within a narrow and falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -2.734 Sell Candidate Downgraded
Predicted Opening Price for Invesco Bulletshares (r) 2024 Municipal Bond Etf of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $24.82 ( 0.0402%) | $24.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BSMO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.87 | 0.241% |
| R2 | 24.85 | 0.164% |
| R1 | 24.84 | 0.117% |
| Price | 24.81 | |
| S1 | 24.80 | -0.0367% |
| S2 | 24.79 | -0.0841% |
| S3 | 24.77 | -0.161% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.84 | 0.121% |
| R2 | 24.83 | 0.0806% |
| R1 | 24.82 | 0.0202% |
| Price | 24.81 | |
| S1 | 24.78 | -0.121% |
| S2 | 24.77 | -0.161% |
| S3 | 24.76 | -0.202% |
BSMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 24, 2024 | $0.0563 | 0.227% |
| 2 | Apr 22, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.0551 | 0.222% |
| 3 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0537 | 0.217% |
| 4 | Feb 20, 2024 | Feb 20, 2024 | Feb 20, 2024 | $0.0500 | 0.202% |
| 5 | Jan 22, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0481 | 0.194% |
FAQ
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