Invesco KBW Regional Banking ETF Forecast

Weaker technical forecast for Invesco KBW Regional Banking as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)

KBWR Signals & Forecast

There are mixed signals in the ETF today. The Invesco KBW Regional Banking ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $48.90. On a fall, the ETF will find some support from the short-term average at $47.20. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.09%. Further fall is indicated until a new bottom pivot has been found. Invesco KBW Regional Banking 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". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Invesco KBW Regional Banking ETF

Invesco KBW Regional Banking finds support from accumulated volume at $47.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.669 between high and low, or 1.42%. For the last week the ETF has had daily average volatility of 1.17%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (KBWR) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Invesco KBW Regional Banking ETF to open at $47.33, and during the day (based on 14 day Average True Range), to move between $46.46 and $47.96, which gives a possible trading interval of +/-$0.746 (+/-1.58%) up or down from last closing price. If Invesco KBW Regional Banking ETF takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $47.15 (0.13%) than the resistance at $47.73 (1.10%), 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 KBW Regional Banking ETF ETF A Buy?

Invesco KBW Regional Banking 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 ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.892 Sell Candidate Downgraded

Predicted Opening Price for Invesco KBW Regional Banking ETF of Wednesday, June 26, 2024

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