Invesco CEF Income Composite ETF Forecast

Invesco CEF Income Composite ETF downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 10, 2024)

PCEF Signals & Forecast

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 $18.64 and $18.42. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, June 05, 2024, and so far it has fallen 0%. 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). 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 $18.68 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 $0.0700 between high and low, or 0.375%. For the last week the ETF has had daily average volatility of 0.419%.

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

Trading Expectations (PCEF) For The Upcoming Trading Day Of Tuesday 11th

For the upcoming trading day on Tuesday, 11th we expect Invesco CEF Income Composite ETF to open at $18.69, and during the day (based on 14 day Average True Range), to move between $18.58 and $18.80, which gives a possible trading interval of +/-$0.112 (+/-0.60%) 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 1.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $18.68 (0.05%) than the resistance at $18.71 (0.11%), 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 CEF Income Composite ETF ETF A Buy?

Invesco CEF Income Composite 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: -1.119 Sell Candidate Downgraded

Predicted Opening Price for Invesco CEF Income Composite ETF of Tuesday, June 11, 2024

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