Invesco S&P Emerging Markets Low ETF Forecast
Invesco S&P Emerging Markets Low ETF downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Invesco S&P Emerging Markets Low ETF price gained 0.434% on the last trading day (Friday, 28th Jun 2024), rising from $23.47 to $23.57. During the last trading day the ETF fluctuated 0.653% from a day low at $23.54 to a day high of $23.69. The price has been going up and down for this period, and there has been a -0.2% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 42 thousand more shares were traded than the day before. In total, 84 thousand shares were bought and sold for approximately $1.98 million.
The ETF is moving within a horizontal trend and further movements within this trend can 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 $23.24 and $24.59 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
There are mixed signals in the ETF today. 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 $23.64 and $23.88. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.640%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Invesco S&P Emerging Markets Low ETF
Invesco S&P Emerging Markets Low finds support from accumulated volume at $23.46 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.154 between high and low, or 0.653%. For the last week the ETF has had daily average volatility of 0.570%.
Our recommended stop-loss: $22.17 (-5.96%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (EELV) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco S&P Emerging Markets Low Volatility ETF to open at $23.60, and during the day (based on 14 day Average True Range), to move between $23.39 and $23.75, which gives a possible trading interval of +/-$0.184 (+/-0.78%) 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 1.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.46 (0.47%) than the resistance at $23.86 (1.23%), 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 S&P Emerging Markets Low Volatility ETF ETF A Buy?
Invesco S&P Emerging Markets Low 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.049 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco S&P Emerging Markets Low Volatility ETF of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $23.60 ( 0.118%) | $23.57 |
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 | 23.75 | 0.770% |
| R2 | 23.69 | 0.521% |
| R1 | 23.66 | 0.367% |
| Price | 23.57 | |
| S1 | 23.54 | -0.131% |
| S2 | 23.50 | -0.285% |
| S3 | 23.44 | -0.533% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.20 | 2.67% |
| R2 | 24.00 | 1.82% |
| R1 | 23.86 | 1.23% |
| Price | 23.57 | |
| S1 | 23.46 | -0.467% |
| S2 | 23.35 | -0.95% |
| S3 | 23.29 | -1.19% |
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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