Innovator Etfs Trust - Innovator Premium ETF Forecast

Weaker technical forecast for Innovator Etfs Trust - Innovator Premium as ETF downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)

JULH Signals & Forecast

There are few to no technical positive signals at the moment. The Innovator Etfs Trust - Innovator Premium ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $25.16 and $25.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.79%. 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). Innovator Etfs Trust - Innovator Premium 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".

Support, Risk & Stop-loss for Innovator Etfs Trust - Innovator Premium 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 $0.0190 between high and low, or 0.0767%. For the last week the ETF has had daily average volatility of 0.0344%.

Innovator Etfs Trust - Innovator Premium is oversold on RSI14 (20). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $23.11 (-6.77%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 20 which reduces the risk some. There is a sell signal from a pivot top found 59 days ago.)

Trading Expectations (JULH) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Innovator Etfs Trust - Innovator Premium Income 20 Barrier Etf - July to open at $24.78, and during the day (based on 14 day Average True Range), to move between $24.73 and $24.84, which gives a possible trading interval of +/-$0.0529 (+/-0.21%) up or down from last closing price. If Innovator Etfs Trust - Innovator Premium Income 20 Barrier Etf - July takes out the full calculated possible swing range there will be an estimated 0.43% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $25.07, some $0.284 (1.14%) from the current price of $24.79, our system finds the risk reward not very attractive.

Is Innovator Etfs Trust - Innovator Premium Income 20 Barrier Etf - July ETF A Buy?

Innovator Etfs Trust - Innovator Premium holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Innovator Etfs Trust - Innovator Premium Income 20 Barrier Etf - July of Monday, July 1, 2024

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