Invesco Quality Municipal Income Trust Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Invesco Quality Municipal Income Trust stock downgraded to Sell Candidate
(Updated on May 02, 2024)
No changes to the price of Invesco Quality Municipal Income Trust stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 0.321% from a day low at $9.34 to a day high of $9.37. The price has risen in 6 of the last 10 days and is up by 0.54% over the past 2 weeks.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.15% during the next 3 months and, with a 90% probability hold a price between $8.94 and $9.26 at the end of this 3-month period. 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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IQI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.86%. Further rise is indicated until a new top pivot has been found. 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. The Invesco Quality Municipal Income Trust stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.47. On a fall, the stock will find some support from the short-term average at $9.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Invesco Quality Municipal Income Trust stock
Invesco Quality Municipal Income Trust finds support from accumulated volume at $9.35 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 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 stock During the last day, the stock moved $0.0300 between high and low, or 0.321%. For the last week the stock has had daily average volatility of 0.483%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IQI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Invesco Quality Municipal Income Trust to open at $9.36, and during the day (based on 14 day Average True Range), to move between $9.30 and $9.42, which gives a possible trading interval of +/-$0.0650 (+/-0.69%) 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 1.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.35 (0.11%) than the resistance at $9.60 (2.56%), 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?
Invesco Quality Municipal Income Trust holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.325 Sell Candidate Downgraded
Predicted Opening Price for Invesco Quality Municipal Income Trust of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $9.36 ( 0.0356%) | $9.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IQI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.39 | 0.285 % | |
| R2 | 9.38 | 0.162 % | ||
| R1 | 9.37 | 0.0868 % | ||
| Current price: | 9.36 | |||
| Support | S1 | 9.35 | -0.158 % | |
| S2 | 9.34 | -0.234 % | ||
| S3 | 9.33 | -0.356 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.68 | 3.42 % | |
| R2 | 9.66 | 3.21 % | ||
| R1 | 9.60 | 2.56 % | ||
| Current price | 9.36 | |||
| Support | S1 | 9.35 | -0.107% | |
| S2 | 9.31 | -0.534% | ||
| S3 | 9.29 | -0.748% |
IQI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0403 | 0.432% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0403 | 0.416% |
| 3 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0403 | 0.421% |
| 4 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0358 | 0.376% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0 | 0% |
FAQ
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