Invesco Global Clean Energy ETF Forecast
Invesco Global Clean Energy ETF downgraded to Hold/Accumulate
(Updated on May 17, 2024)
The Invesco Global Clean Energy ETF price fell by -0.481% on the last day (Friday, 17th May 2024) from $14.55 to $14.48. During the last trading day the ETF fluctuated 1.25% from a day low at $14.38 to a day high of $14.56. The price has been going up and down for this period, and there has been a 3.13% gain for the last 2 weeks. Volume has increased on the last day by 46 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 69 thousand shares were bought and sold for approximately $1.00 million.
The ETFis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $14.64 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Invesco Global Clean Energy ETF with a 90% probability to be traded between $13.43 and $14.85 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PBD Signals & Forecast
The Invesco Global Clean Energy ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.40 and $13.85. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.03%. Further fall is indicated until a new bottom pivot has been found. Invesco Global Clean Energy 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 Invesco Global Clean Energy ETF
Invesco Global Clean Energy finds support from accumulated volume at $14.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.180 between high and low, or 1.25%. For the last week, the ETF has had daily average volatility of 1.39%.
Our recommended stop-loss: $14.05 (-2.99%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (PBD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Invesco Global Clean Energy ETF to open at $14.47, and during the day (based on 14 day Average True Range), to move between $14.25 and $14.71, which gives a possible trading interval of +/-$0.235 (+/-1.62%) up or down from last closing price. If Invesco Global Clean Energy ETF takes out the full calculated possible swing range there will be an estimated 3.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.55 (0.48%) than the support at $14.15 (2.28%), 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 Global Clean Energy ETF ETF A Buy?
Invesco Global Clean Energy 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. 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: 0.235 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco Global Clean Energy ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $14.47 ( 0.0460%) | $14.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.65 | 1.20 % | |
| R2 | 14.58 | 0.722 % | ||
| R1 | 14.54 | 0.429 % | ||
| Current price: | 14.48 | |||
| Support | S1 | 14.40 | -0.521 % | |
| S2 | 14.36 | -0.81 % | ||
| S3 | 14.29 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.63 | 1.04 % | |
| R2 | 14.56 | 0.552 % | ||
| R1 | 14.55 | 0.483 % | ||
| Current price | 14.48 | |||
| Support | S1 | 14.15 | -2.28% | |
| S2 | 13.97 | -3.52% | ||
| S3 | 13.93 | -3.80% |
PBD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0066 | 0.0475% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.195 | 1.26% |
| 3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0370 | 0.237% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.140 | 0.774% |
| 5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0840 | 0.451% |
FAQ
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