Invesco MSCI Global Timber ETF Forecast

Invesco MSCI Global Timber ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

CUT Signals & Forecast

The Invesco MSCI Global Timber ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $32.41 and $32.94. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 04, 2024, and so far it has fallen -3.22%. Further fall is indicated until a new bottom pivot has been found. 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 not be. 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 $32.46 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.394%.

Our recommended stop-loss: $31.99 (-3.36%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (CUT) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Invesco MSCI Global Timber ETF to open at $33.10, and during the day (based on 14 day Average True Range), to move between $32.74 and $33.46, which gives a possible trading interval of +/-$0.364 (+/-1.10%) 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 2.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.64 (1.63%) than the support at $32.46 (1.93%), 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?

Invesco MSCI Global Timber 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.074 Hold/Accumulate Upgraded

Predicted Opening Price for Invesco MSCI Global Timber ETF of Monday, May 6, 2024

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