Invesco DB Agriculture Fund ETF Forecast
Red day on Thursday for Invesco DB Agriculture Fund
(Updated on May 02, 2024)
The Invesco DB Agriculture Fund ETF price fell by -1.64% on the last day (Thursday, 2nd May 2024) from $23.84 to $23.45. It has now fallen 6 days in a row. During the last trading day the ETF fluctuated 2.96% from a day low at $23.35 to a day high of $24.04. The price has fallen in 8 of the last 10 days and is down by -9.56% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -843 thousand shares and in total, 703 thousand shares were bought and sold for approximately $16.49 million.
Given the current short-term trend, the ETF is expected to rise 20.93% during the next 3 months and, with a 90% probability hold a price between $28.36 and $32.65 at the end of this 3-month period.
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DBA Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco DB Agriculture Fund 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 $25.11 and $24.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -11.64%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Invesco DB Agriculture Fund ETF
Invesco DB Agriculture Fund finds support from accumulated volume at $23.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.690 between high and low, or 2.96%. For the last week, the ETF has had daily average volatility of 2.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DBA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Invesco DB Agriculture Fund to open at $23.61, and during the day (based on 14 day Average True Range), to move between $22.92 and $23.98, which gives a possible trading interval of +/-$0.527 (+/-2.25%) up or down from last closing price. If Invesco DB Agriculture Fund takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.09 (1.54%) than the resistance at $23.84 (1.66%), 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 DB Agriculture Fund ETF A Buy?
The Invesco DB Agriculture Fund ETF holds several negative signals and despite the positive trend, we believe Invesco DB Agriculture Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.978 Sell Candidate Unchanged
Predicted Opening Price for Invesco DB Agriculture Fund of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $23.61 ( 0.697%) | $23.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.30 | 3.64 % | |
| R2 | 24.04 | 2.51 % | ||
| R1 | 23.88 | 1.82 % | ||
| Current price: | 23.45 | |||
| Support | S1 | 23.35 | -0.427 % | |
| S2 | 23.19 | -1.12 % | ||
| S3 | 22.92 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.26 | 7.72 % | |
| R2 | 25.07 | 6.91 % | ||
| R1 | 23.84 | 1.66 % | ||
| Current price | 23.45 | |||
| Support | S1 | 23.09 | -1.54% | |
| S2 | 22.45 | -4.26% | ||
| S3 | 22.00 | -6.18% |
DBA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.96 | 4.57% |
| 2 | Jan 24, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.0960 | 0.475% |
| 3 | Jan 18, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.257 | 1.55% |
| 4 | Dec 21, 2018 | Dec 24, 2018 | Dec 31, 2018 | $0.180 | 1.06% |
| 5 | Dec 15, 2008 | Dec 15, 2008 | Dec 15, 2008 | $0.450 | 1.92% |
FAQ
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