Invesco CEF Income Composite ETF Forecast
Invesco CEF Income Composite ETF upgraded to Buy Candidate.
(Updated on May 14, 2024)
The Invesco CEF Income Composite ETF price gained 0.596% on the last trading day (Tuesday, 14th May 2024), rising from $18.45 to $18.56. During the last trading day the ETF fluctuated 0.460% from a day low at $18.48 to a day high of $18.56. The price has risen in 7 of the last 10 days and is up by 3.34% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 48 thousand more shares were traded than the day before. In total, 155 thousand shares were bought and sold for approximately $2.87 million.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $18.61 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -2.38% during the next 3 months and, with a 90% probability hold a price between $17.30 and $18.17 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PCEF Signals & Forecast
Mostly positive signals in the chart today. The Invesco CEF Income Composite 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 $18.49 and $18.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 4.04%. 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 is rising along with the price. This is considered to be a good technical signal. The ETF had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, July 10, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Invesco CEF Income Composite ETF
Invesco CEF Income Composite finds support from accumulated volume at $18.46 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 $0.0850 between high and low, or 0.460%. For the last week the ETF has had daily average volatility of 0.480%.
Our recommended stop-loss: $17.60 (-5.18%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (PCEF) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Invesco CEF Income Composite ETF to open at $18.53, and during the day (based on 14 day Average True Range), to move between $18.43 and $18.69, which gives a possible trading interval of +/-$0.126 (+/-0.68%) up or down from last closing price. If Invesco CEF Income Composite ETF takes out the full calculated possible swing range there will be an estimated 1.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.62 (0.32%) than the support at $18.46 (0.54%), 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 CEF Income Composite ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.098 Buy Candidate Upgraded
Predicted Opening Price for Invesco CEF Income Composite ETF of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $18.53 ( 0.153%) | $18.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCEF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.62 | 0.305 % | |
| R2 | 18.58 | 0.130 % | ||
| R1 | 18.56 | 0.0223 % | ||
| Current price: | 18.56 | |||
| Support | S1 | 18.50 | -0.328 % | |
| S2 | 18.48 | -0.436 % | ||
| S3 | 18.45 | -0.611 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.68 | 0.647 % | |
| R2 | 18.66 | 0.539 % | ||
| R1 | 18.62 | 0.323 % | ||
| Current price | 18.56 | |||
| Support | S1 | 18.46 | -0.539% | |
| S2 | 17.91 | -3.50% | ||
| S3 | 17.87 | -3.72% |
PCEF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.143 | 0.793% |
| 2 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.143 | 0.764% |
| 3 | Jan 05, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.143 | 0.773% |
| 4 | Jan 05, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.141 | 0.774% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.130 | 0.723% |
FAQ
Click here for our free guide on how to buy Invesco CEF Income Composite ETF ETF.
