Invesco S&P Spin-Off ETF Forecast
Invesco S&P Spin-Off ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The Invesco S&P Spin-Off ETF price gained 0.127% on the last trading day (Friday, 28th Jun 2024), rising from $69.55 to $69.64. During the last trading day the ETF fluctuated 0.424% from a day low at $69.60 to a day high of $69.89. The price has been going up and down for this period, and there has been a -0.64% loss for the last 2 weeks. Volume fell on the last day by -242 shares and in total, 2 thousand shares were bought and sold for approximately $117.20 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco S&P Spin-Off ETF with a 90% probability to be traded between $69.21 and $75.35 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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CSD Signals & Forecast
The Invesco S&P Spin-Off ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $69.64 and $70.90. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.591%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Invesco S&P Spin-Off ETF
Invesco S&P Spin-Off finds support from accumulated volume at $69.52 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.295 between high and low, or 0.424%. For the last week the ETF has had daily average volatility of 0.166%
Our recommended stop-loss: $65.93 (-5.32%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (CSD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco S&P Spin-Off ETF to open at $69.71, and during the day (based on 14 day Average True Range), to move between $69.04 and $70.24, which gives a possible trading interval of +/-$0.602 (+/-0.86%) up or down from last closing price. If Invesco S&P Spin-Off ETF takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $69.52 (0.17%) than the resistance at $70.62 (1.41%), 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 S&P Spin-Off ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.612 Buy Candidate Upgraded
Predicted Opening Price for Invesco S&P Spin-Off ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $69.71 ( 0.0990%) | $69.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.00 | 0.523% |
| R2 | 69.89 | 0.361% |
| R1 | 69.82 | 0.261% |
| Price | 69.64 | |
| S1 | 69.60 | -0.0628% |
| S2 | 69.53 | -0.163% |
| S3 | 69.41 | -0.325% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.51 | 5.56% |
| R2 | 71.83 | 3.15% |
| R1 | 70.62 | 1.41% |
| Price | 69.64 | |
| S1 | 69.52 | -0.171% |
| S2 | 68.49 | -1.64% |
| S3 | 68.31 | -1.91% |
CSD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.332 | 0.528% |
| 2 | Jan 20, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.450 | 0.86% |
| 3 | Dec 17, 2021 | Dec 20, 2021 | Dec 31, 2021 | $0.455 | 0.732% |
| 4 | Jan 24, 2020 | Dec 21, 2020 | Dec 31, 2020 | $0.549 | 0.99% |
| 5 | Jan 18, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.547 | 1.08% |
FAQ
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