INVESCO MORTGAGE CAPITAL INC Stock Forecast
INVESCO MORTGAGE CAPITAL INC stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The INVESCO MORTGAGE CAPITAL INC stock price gained 2.62% on the last trading day (Thursday, 2nd May 2024), rising from $8.79 to $9.02. During the last trading day the stock fluctuated 2.44% from a day low at $8.82 to a day high of $9.03. The price has risen in 8 of the last 10 days and is up by 11.5% over the past 2 weeks. Volume fell on the last day by -646 thousand shares and in total, 832 thousand shares were bought and sold for approximately $7.51 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect INVESCO MORTGAGE CAPITAL INC stock with a 90% probability to be traded between $8.05 and $9.63 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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IVR Signals & Forecast
Mostly positive signals in the chart today. The INVESCO MORTGAGE CAPITAL INC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $8.66 and $8.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 11.50%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for INVESCO MORTGAGE CAPITAL INC stock
INVESCO MORTGAGE CAPITAL INC finds support from accumulated volume at $8.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.215 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: $8.73 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (IVR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect INVESCO MORTGAGE CAPITAL INC to open at $8.96, and during the day (based on 14 day Average True Range), to move between $8.79 and $9.25, which gives a possible trading interval of +/-$0.234 (+/-2.59%) 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 5.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.66 (3.99%) than the resistance at $9.41 (4.32%), 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 MORTGAGE CAPITAL INC stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for INVESCO MORTGAGE CAPITAL INC stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.611 Buy Candidate Upgraded
Predicted Opening Price for INVESCO MORTGAGE CAPITAL INC of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $8.96 ( 0.721%) | $9.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IVR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.17 | 1.66 % | |
| R2 | 9.09 | 0.752 % | ||
| R1 | 9.04 | 0.190 % | ||
| Current price: | 9.02 | |||
| Support | S1 | 8.87 | -1.63 % | |
| S2 | 8.82 | -2.19 % | ||
| S3 | 8.74 | -3.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.63 | 6.76 % | |
| R2 | 9.48 | 5.10 % | ||
| R1 | 9.41 | 4.32 % | ||
| Current price | 9.02 | |||
| Support | S1 | 8.66 | -3.99% | |
| S2 | 8.62 | -4.43% | ||
| S3 | 8.53 | -5.43% |
IVR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Apr 05, 2024 | Apr 26, 2024 | $0.400 | 4.67% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Jan 26, 2024 | $0.400 | 4.35% |
| 3 | Sep 26, 2023 | Oct 05, 2023 | Oct 27, 2023 | $0.400 | 6.14% |
| 4 | Jun 21, 2023 | Jun 30, 2023 | Jul 27, 2023 | $0.400 | 3.35% |
| 5 | Mar 27, 2023 | Apr 06, 2023 | Apr 27, 2023 | $0.400 | 3.86% |
FAQ
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