Invesco DWA SmallCap Momentum ETF Forecast

Invesco DWA SmallCap Momentum ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

DWAS Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco DWA SmallCap Momentum 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 $84.66 and $88.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.11%. 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 DWA SmallCap Momentum ETF

Invesco DWA SmallCap Momentum finds support from accumulated volume at $81.69 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 $1.68 between high and low, or 2.05%. For the last week, the ETF has had daily average volatility of 2.17%.

Invesco DWA SmallCap Momentum is oversold on RSI14 (22). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $77.98 (-4.76%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 22 which reduces the risk some. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (DWAS) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Invesco DWA SmallCap Momentum ETF to open at $82.37, and during the day (based on 14 day Average True Range), to move between $80.19 and $83.57, which gives a possible trading interval of +/-$1.69 (+/-2.06%) up or down from last closing price. If Invesco DWA SmallCap Momentum ETF takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $81.69 (0.23%) than the resistance at $87.57 (6.95%), 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 DWA SmallCap Momentum ETF ETF A Buy?

Invesco DWA SmallCap Momentum holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.192 Hold/Accumulate Upgraded

Predicted Opening Price for Invesco DWA SmallCap Momentum ETF of Friday, April 19, 2024

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