INVESCO MORTGAGE CAPITAL INC Stock Forecast

Stronger technical forecast for INVESCO MORTGAGE CAPITAL INC stock price after Tuesday trading.
(Updated on Apr 23, 2024)

IVR Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.06%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The INVESCO MORTGAGE CAPITAL INC 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 $9.00. On a fall, the stock will find some support from the short-term average at $8.25. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for INVESCO MORTGAGE CAPITAL INC stock

INVESCO MORTGAGE CAPITAL INC finds support from accumulated volume at $8.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.315 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 2.11%.

Our recommended stop-loss: $8.20 (-4.38%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (IVR) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect INVESCO MORTGAGE CAPITAL INC to open at $8.49, and during the day (based on 14 day Average True Range), to move between $8.35 and $8.81, which gives a possible trading interval of +/-$0.228 (+/-2.66%) up or down from last closing price. If INVESCO MORTGAGE CAPITAL INC takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.62 (0.47%) than the support at $8.53 (0.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is INVESCO MORTGAGE CAPITAL INC stock A Buy?

INVESCO MORTGAGE CAPITAL INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.129 Hold/Accumulate Upgraded

Predicted Opening Price for INVESCO MORTGAGE CAPITAL INC of Wednesday, April 24, 2024

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