Invesco Investment Grade Defensive Etf ETF Forecast
Weaker technical forecast for Invesco Investment Grade Defensive Etf as ETF downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The Invesco Investment Grade Defensive Etf ETF price fell by -0.148% on the last day (Thursday, 25th Apr 2024) from $23.73 to $23.69. During the last trading day the ETF fluctuated 0.237% from a day low at $23.66 to a day high of $23.72. The price has fallen in 6 of the last 10 days and is down by -0.48% for this period. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately $78.94 thousand.
The ETF is at the lower part of a narrow 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 $23.67 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Invesco Investment Grade Defensive Etf ETF with a 90% probability to be traded between $23.29 and $23.57 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IIGD Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Investment Grade Defensive Etf 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 $23.74 and $23.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -1.62%. 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 Investment Grade Defensive Etf 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Invesco Investment Grade Defensive Etf ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.0561 between high and low, or 0.237%. For the last week the ETF has had daily average volatility of 0.156%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IIGD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Invesco Investment Grade Defensive Etf to open at $23.69, and during the day (based on 14 day Average True Range), to move between $23.63 and $23.75, which gives a possible trading interval of +/-$0.0647 (+/-0.27%) up or down from last closing price. If Invesco Investment Grade Defensive Etf takes out the full calculated possible swing range there will be an estimated 0.55% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $23.98, some $0.290 (1.22%) from the current price of $23.69, our system finds the risk reward not very attractive.
Is Invesco Investment Grade Defensive Etf ETF A Buy?
Invesco Investment Grade Defensive Etf 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.799 Sell Candidate Downgraded
Predicted Opening Price for Invesco Investment Grade Defensive Etf of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $23.69 ( 0.0055%) | $23.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IIGD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.75 | 0.242 % | |
| R2 | 23.73 | 0.152 % | ||
| R1 | 23.71 | 0.0959 % | ||
| Current price: | 23.69 | |||
| Support | S1 | 23.67 | -0.0850 % | |
| S2 | 23.66 | -0.141 % | ||
| S3 | 23.64 | -0.231 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.13 | 1.86 % | |
| R2 | 24.05 | 1.50 % | ||
| R1 | 23.98 | 1.22 % | ||
| Current price | 23.69 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
IIGD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.0789 | 0.333% |
| 2 | Jan 11, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0892 | 0.371% |
| 3 | Jan 11, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0796 | 0.332% |
| 4 | Jan 11, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0832 | 0.345% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0890 | 0.369% |
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