Invesco S&P Emerging Markets Low ETF Forecast
Stronger technical forecast for Invesco S&P Emerging Markets Low ETF price after Wednesday trading.
(Updated on Jun 26, 2024)
The Invesco S&P Emerging Markets Low ETF price fell by -0.679% on the last day (Wednesday, 26th Jun 2024) from $23.58 to $23.42. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 0.326% from a day low at $23.40 to a day high of $23.48. The price has fallen in 6 of the last 10 days and is down by -1.01% 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 -63 thousand shares and in total, 32 thousand shares were bought and sold for approximately $748.53 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.18 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Invesco S&P Emerging Markets Low ETF with a 90% probability to be traded between $23.29 and $24.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EELV Signals & Forecast
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. The Invesco S&P Emerging Markets Low 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 $23.74 and $23.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -4.29%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Invesco S&P Emerging Markets Low ETF
Invesco S&P Emerging Markets Low finds support from accumulated volume at $23.35 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 $0.0762 between high and low, or 0.326%. For the last week the ETF has had daily average volatility of 0.475%
Our recommended stop-loss: $21.97 (-6.20%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (EELV) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Invesco S&P Emerging Markets Low Volatility ETF to open at $23.43, and during the day (based on 14 day Average True Range), to move between $23.24 and $23.60, which gives a possible trading interval of +/-$0.179 (+/-0.76%) up or down from last closing price. If Invesco S&P Emerging Markets Low Volatility ETF takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.46 (0.17%) than the support at $23.35 (0.32%), 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 S&P Emerging Markets Low Volatility ETF ETF A Buy?
Invesco S&P Emerging Markets Low 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: -0.276 Hold/Accumulate Upgraded
Predicted Opening Price for Invesco S&P Emerging Markets Low Volatility ETF of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $23.43 ( 0.0515%) | $23.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EELV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.51 | 0.377% |
| R2 | 23.48 | 0.253% |
| R1 | 23.46 | 0.176% |
| Price | 23.42 | |
| S1 | 23.40 | -0.0728% |
| S2 | 23.38 | -0.150% |
| S3 | 23.36 | -0.274% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.00 | 2.48% |
| R2 | 23.86 | 1.88% |
| R1 | 23.46 | 0.171% |
| Price | 23.42 | |
| S1 | 23.35 | -0.320% |
| S2 | 23.29 | -0.555% |
| S3 | 23.11 | -1.32% |
EELV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.155 | 0.648% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.317 | 1.35% |
| 3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.294 | 1.29% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.204 | 0.87% |
| 5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.147 | 0.636% |
FAQ
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