Invesco Us High Yield Fallen Angels ETF Forecast

Invesco Us High Yield Fallen Angels ETF price up 0.0153% on Tuesday
(Updated on Jun 25, 2024)

FAHY.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.407%. 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). Invesco Us High Yield Fallen Angels has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco Us High Yield Fallen Angels ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 19.72€. On a fall, the ETF will find some support from the short-term average at 19.60€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, June 13, 2024 and based on theory for this formation the price should go up by 1.42% to 19.90€ within 10 trading days since signal was issued (Thursday, June 27, 2024).

Support, Risk & Stop-loss for Invesco Us High Yield Fallen Angels ETF

Invesco Us High Yield Fallen Angels finds support from accumulated volume at 19.60€ 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 0.0970€ between high and low, or 0.496%. For the last week the ETF has had daily average volatility of 0.451%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FAHY.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Invesco Us High Yield Fallen Angels Ucits Etf to open at 19.60€, and during the day (based on 14 day Average True Range), to move between 19.49€ and 19.75€, which gives a possible trading interval of +/-0.127€ (+/-0.65%) up or down from last closing price. If Invesco Us High Yield Fallen Angels Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 19.60€ (0.10%) than the resistance at 19.78€ (0.80%), 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 Us High Yield Fallen Angels Ucits Etf ETF A Buy?

Invesco Us High Yield Fallen Angels holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -2.923 Sell Candidate Unchanged

Predicted Opening Price for Invesco Us High Yield Fallen Angels Ucits Etf of Wednesday, June 26, 2024

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