Invesco S&p 500 Ucits Etf ETF Forecast
Invesco S&p 500 Ucits Etf ETF upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Invesco S&p 500 Ucits Etf ETF price fell by -0.0504% on the last day (Tuesday, 25th Jun 2024) from £6,944.00 to £6,940.50. During the last trading day the ETF fluctuated 0.351% from a day low at £6,919.73 to a day high of £6,944.00. The price has risen in 7 of the last 10 days and is up by 2.64% over the past 2 weeks. Volume has increased on the last day by 4 thousand 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, 8 thousand shares were bought and sold for approximately £52.12 million.
The ETF lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £7,002.26 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 6.62% during the next 3 months and, with a 90% probability hold a price between £7,051.66 and £7,465.89 at the end of this 3-month period.
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G500.L Signals & Forecast
The Invesco S&p 500 Ucits Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately £6,942.57. On a fall, the ETF will find some support from the long-term average at approximately £6,725.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.666%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Invesco S&p 500 Ucits Etf ETF
Invesco S&p 500 Ucits Etf finds support from accumulated volume at £6,697.50 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 £24.27 between high and low, or 0.351%. For the last week the ETF has had daily average volatility of 0.498%.
Our recommended stop-loss: £6,748.51 (-2.77%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (G500.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Invesco S&p 500 Ucits Etf to open at £6,934.74, and during the day (based on 14 day Average True Range), to move between £6,878.88 and £7,002.12, which gives a possible trading interval of +/-£61.62 (+/-0.89%) up or down from last closing price. If Invesco S&p 500 Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £6,944.00 (0.05%) than the support at £6,697.50 (3.50%), 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 500 Ucits Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Invesco S&p 500 Ucits Etf ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.087 Buy Candidate Upgraded
Predicted Opening Price for Invesco S&p 500 Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £6,934.74 ( 0.0829%) | £6,940.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for G500.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6,959.01 | 0.267% |
| R2 | 6,949.74 | 0.133% |
| R1 | 6,944.01 | 0.0506% |
| Price | 6,940.50 | |
| S1 | 6,925.47 | -0.217% |
| S2 | 6,919.75 | -0.299% |
| S3 | 6,910.48 | -0.433% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6,987.00 | 0.670% |
| R2 | 6,973.00 | 0.468% |
| R1 | 6,944.00 | 0.0504% |
| Price | 6,940.50 | |
| S1 | 6,697.50 | -3.50% |
| S2 | 6,538.00 | -5.80% |
| S3 | 6,486.00 | -6.55% |
FAQ
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