Invesco MSCI Global Timber ETF Forecast

Red day on Wednesday for Invesco MSCI Global Timber
(Updated on Apr 24, 2024)

CUT Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco MSCI Global Timber 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 $32.14 and $32.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -6.04%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.

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.

Support, Risk & Stop-loss for Invesco MSCI Global Timber ETF

Invesco MSCI Global Timber finds support from accumulated volume at $31.02 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 controlled movements and therefore the general risk is considered 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 $0.105 between high and low, or 0.326%. For the last week the ETF has had daily average volatility of 0.473%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CUT) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Invesco MSCI Global Timber ETF to open at $32.10, and during the day (based on 14 day Average True Range), to move between $31.78 and $32.49, which gives a possible trading interval of +/-$0.357 (+/-1.11%) up or down from last closing price. If Invesco MSCI Global Timber ETF takes out the full calculated possible swing range there will be an estimated 2.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.46 (1.01%) than the support at $31.02 (3.47%), 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 MSCI Global Timber ETF ETF A Buy?

The Invesco MSCI Global Timber ETF holds several negative signals and despite the positive trend, we believe Invesco MSCI Global Timber will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -2.963 Sell Candidate Unchanged

Predicted Opening Price for Invesco MSCI Global Timber ETF of Thursday, April 25, 2024

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