Invesco WilderHill Clean Energy ETF Forecast
Red day on Thursday for Invesco WilderHill Clean Energy
(Updated on Apr 18, 2024)
The Invesco WilderHill Clean Energy ETF price fell by -2.05% on the last day (Thursday, 18th Apr 2024) from $19.97 to $19.56. It has now fallen 7 days in a row. During the last trading day the ETF fluctuated 3.08% from a day low at $19.49 to a day high of $20.09. The price has fallen in 8 of the last 10 days and is down by -12.17% for this period. Volume has increased on the last day by 30 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, 190 thousand shares were bought and sold for approximately $3.71 million.
The ETF has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($20.04) are considered to be a "second chance" to get out. According to the fan-theory $16.91 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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PBW Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco WilderHill Clean Energy ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.73 and $22.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -15.14%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Invesco WilderHill Clean Energy 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.
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 $0.600 between high and low, or 3.08%. For the last week, the ETF has had daily average volatility of 3.29%.
Invesco WilderHill Clean Energy is oversold on RSI14 (19). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PBW) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Invesco WilderHill Clean Energy ETF to open at $19.71, and during the day (based on 14 day Average True Range), to move between $18.85 and $20.27, which gives a possible trading interval of +/-$0.714 (+/-3.65%) up or down from last closing price. If Invesco WilderHill Clean Energy ETF takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $20.49, some $0.93 (4.75%) from the current price of $19.56, our system finds the risk reward not very attractive.
Is Invesco WilderHill Clean Energy ETF ETF A Buy?
Invesco WilderHill Clean Energy holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -4.089 Sell Candidate Unchanged
Predicted Opening Price for Invesco WilderHill Clean Energy ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $19.71 ( 0.784%) | $19.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.31 | 3.85 % | |
| R2 | 20.08 | 2.68 % | ||
| R1 | 19.94 | 1.96 % | ||
| Current price: | 19.56 | |||
| Support | S1 | 19.48 | -0.388 % | |
| S2 | 19.34 | -1.11 % | ||
| S3 | 19.11 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.17 | 13.34 % | |
| R2 | 21.79 | 11.40 % | ||
| R1 | 20.49 | 4.75 % | ||
| Current price | 19.56 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PBW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.149 | 0.676% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.192 | 0.661% |
| 3 | Jan 03, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.192 | 0.611% |
| 4 | Jan 03, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.259 | 0.705% |
| 5 | Jan 03, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.452 | 1.23% |
FAQ
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