Invesco Euro Stoxx High Dividend Low ETF Forecast
Red day on Friday for Invesco Euro Stoxx High Dividend Low ETF after losing 1.19%
(Updated on Jun 28, 2024)
The Invesco Euro Stoxx High Dividend Low ETF price fell by -1.19% on the last day (Friday, 28th Jun 2024) from £2,103.50 to £2,078.50. During the last trading day the ETF fluctuated 0.84% from a day low at £2,071.50 to a day high of £2,089.00. The price has fallen in 5 of the last 10 days and is down by -0.3% for this period. Volume has increased on the last day by 162 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 162 shares were bought and sold for approximately £336.72 thousand.
The ETF is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £2,056.65 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Invesco Euro Stoxx High Dividend Low ETF with a 90% probability to be traded between £2,039.87 and £2,255.26 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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EUHD.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco Euro Stoxx High Dividend 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 £2,102.43 and £2,200.12. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Invesco Euro Stoxx High Dividend Low gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Invesco Euro Stoxx High Dividend Low ETF
Invesco Euro Stoxx High Dividend Low finds support from accumulated volume at £2,059.50 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 £17.50 between high and low, or 0.84%. For the last week, the ETF has had daily average volatility of 0.597%.
Invesco Euro Stoxx High Dividend Low is oversold on RSI14 (27). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: £1,968.47 (-5.29%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 27 which reduces the risk some. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (EUHD.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco Euro Stoxx High Dividend Low Volatility Ucits Etf to open at £2,079.67, and during the day (based on 14 day Average True Range), to move between £2,051.88 and £2,105.12, which gives a possible trading interval of +/-£26.62 (+/-1.28%) up or down from last closing price. If Invesco Euro Stoxx High Dividend Low Volatility Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2,059.50 (0.91%) than the resistance at £2,103.50 (1.20%), 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 Euro Stoxx High Dividend Low Volatility Ucits Etf ETF A Buy?
Invesco Euro Stoxx High Dividend 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Invesco Euro Stoxx High Dividend Low Volatility Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £2,079.67 ( 0.0561%) | £2,078.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EUHD.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,097.17 | 0.90% |
| R2 | 2,090.48 | 0.576% |
| R1 | 2,086.35 | 0.378% |
| Price | 2,078.50 | |
| S1 | 2,072.98 | -0.265% |
| S2 | 2,068.85 | -0.464% |
| S3 | 2,062.17 | -0.786% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,283.00 | 9.84% |
| R2 | 2,116.75 | 1.84% |
| R1 | 2,103.50 | 1.20% |
| Price | 2,078.50 | |
| S1 | 2,059.50 | -0.91% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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