Invesco High Yield Bond Factor ETF Forecast

Red day on Monday for Invesco High Yield Bond Factor
(Updated on Apr 29, 2024)

IHYF Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.198%. 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 High Yield Bond Factor 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 $21.93 and $22.12. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Wednesday, June 28, 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 ETF in question.

Buy

Special Signal Notification

Golden Star 12 Months

The ETF had a Golden Star Signal on Wednesday, June 28, 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 ETF in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 3.85% to $22.77 within 42 trading days since signal was issued (Tuesday, April 30, 2024).

Support, Risk & Stop-loss for Invesco High Yield Bond Factor ETF

Invesco High Yield Bond Factor finds support from accumulated volume at $21.92 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0229 between high and low, or 0.105%. For the last week the ETF has had daily average volatility of 0.195%

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

Trading Expectations (IHYF) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Invesco High Yield Bond Factor ETF to open at $21.92, and during the day (based on 14 day Average True Range), to move between $21.85 and $22.00, which gives a possible trading interval of +/-$0.0770 (+/-0.35%) up or down from last closing price. If Invesco High Yield Bond Factor ETF takes out the full calculated possible swing range there will be an estimated 0.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.92 (0.01%) than the resistance at $22.08 (0.69%), 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 High Yield Bond Factor ETF ETF A Buy?

Invesco High Yield Bond Factor holds several negative signals and is within a narrow and 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 ETF.

Current score: -1.496 Sell Candidate Unchanged

Predicted Opening Price for Invesco High Yield Bond Factor ETF of Tuesday, April 30, 2024

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