Invesco Agriculture Commodity Strategy ETF Forecast

Weaker technical forecast for Invesco Agriculture Commodity Strategy as ETF downgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)

PDBA Signals & Forecast

The Invesco Agriculture Commodity Strategy ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $36.69. On a fall, the ETF will find some support from the long-term average at approximately $35.61. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Thursday, June 13, 2024, and so far it has fallen -4.15%. 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 Agriculture Commodity Strategy ETF

Invesco Agriculture Commodity Strategy finds support from accumulated volume at $35.67 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 $1.10 between high and low, or 3.07%. For the last week the ETF has had daily average volatility of 1.41%.

Our recommended stop-loss: $34.50 (-3.64%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (PDBA) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Invesco Agriculture Commodity Strategy No K-1 Etf to open at $36.16, and during the day (based on 14 day Average True Range), to move between $35.21 and $36.39, which gives a possible trading interval of +/-$0.588 (+/-1.64%) up or down from last closing price. If Invesco Agriculture Commodity Strategy No K-1 Etf takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $35.67 (0.36%) than the resistance at $36.16 (1.01%), 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 Agriculture Commodity Strategy No K-1 Etf ETF A Buy?

Invesco Agriculture Commodity Strategy holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.799 Hold/Accumulate Downgraded

Predicted Opening Price for Invesco Agriculture Commodity Strategy No K-1 Etf of Friday, June 21, 2024

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