Invesco Quality Municipal Income Trust Stock Forecast

Red day on Thursday for Invesco Quality Municipal Income Trust stock after losing 0%
(Updated on Apr 18, 2024)

IQI Signals & Forecast

The Invesco Quality Municipal Income Trust stock 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 $9.33 and $9.56. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.215%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".

Support, Risk & Stop-loss for Invesco Quality Municipal Income Trust stock

Invesco Quality Municipal Income Trust finds support from accumulated volume at $9.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.215%. For the last week the stock has had daily average volatility of 0.612%.

Invesco Quality Municipal Income Trust is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $8.70 (-6.59%) (This stock has low daily movements and this gives low risk. Low RSI14 is 17 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (IQI) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Invesco Quality Municipal Income Trust to open at $9.31, and during the day (based on 14 day Average True Range), to move between $9.24 and $9.38, which gives a possible trading interval of +/-$0.0720 (+/-0.77%) up or down from last closing price. If Invesco Quality Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 1.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.29 (0.21%) than the resistance at $9.58 (2.90%), 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 Quality Municipal Income Trust stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.094 Buy Candidate Unchanged

Predicted Opening Price for Invesco Quality Municipal Income Trust of Friday, April 19, 2024

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