Invesco Zacks Multi-Asset Income ETF Forecast

Stronger technical forecast for Invesco Zacks Multi-Asset Income ETF price after Thursday trading.
(Updated on May 09, 2024)

CVY Signals & Forecast

The Invesco Zacks Multi-Asset Income ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $25.35 and $25.28. 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 Friday, April 05, 2024, and so far it has fallen -0.561%. 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.

Support, Risk & Stop-loss for Invesco Zacks Multi-Asset Income ETF

Invesco Zacks Multi-Asset Income finds support from accumulated volume at $25.51 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 $0.185 between high and low, or 0.725%. For the last week the ETF has had daily average volatility of 0.554%

Our recommended stop-loss: $24.89 (-3.10%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (CVY) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Invesco Zacks Multi-Asset Income ETF to open at $25.62, and during the day (based on 14 day Average True Range), to move between $25.43 and $25.94, which gives a possible trading interval of +/-$0.259 (+/-1.01%) up or down from last closing price. If Invesco Zacks Multi-Asset Income ETF takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $25.70 (0.04%) than the support at $25.51 (0.68%), 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 Zacks Multi-Asset Income ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Invesco Zacks Multi-Asset Income ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.060 Buy Candidate Upgraded

Predicted Opening Price for Invesco Zacks Multi-Asset Income ETF of Friday, May 10, 2024

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