Invesco High Income 2024 Target Term Trust Forecast

Invesco High Income 2024 Target Term trust downgraded to Sell Candidate
(Updated on Jun 28, 2024)

IHTA Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco High Income 2024 Target Term trust 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 $7.47 and $7.56. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -4.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Invesco High Income 2024 Target Term 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". The trust had a Golden Star Signal on Wednesday, September 06, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the trust in question.

Support, Risk & Stop-loss for Invesco High Income 2024 Target Term trust

There is no support from accumulated volume below today's level and given the right condition the trust may perform very badly in the next couple of days.

In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.195 between high and low, or 2.67%. For the last week the trust has had daily average volatility of 0.96%.

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

Trading Expectations (IHTA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco High Income 2024 Target Term Fund to open at $7.38, and during the day (based on 14 day Average True Range), to move between $7.27 and $7.39, which gives a possible trading interval of +/-$0.0615 (+/-0.84%) up or down from last closing price. If Invesco High Income 2024 Target Term Fund takes out the full calculated possible swing range there will be an estimated 1.68% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $7.47, some $0.140 (1.91%) from the current price of $7.33, our system finds the risk reward not very attractive.

Is Invesco High Income 2024 Target Term Fund trust A Buy?

Invesco High Income 2024 Target Term holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Buy to a Sell candidate.

Current score: -2.761 Sell Candidate Downgraded

Predicted Opening Price for Invesco High Income 2024 Target Term Fund of Monday, July 1, 2024

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