Innovator U.S. Equity Power Buffer - ETF Forecast

Innovator U.S. Equity Power Buffer - ETF upgraded to Buy Candidate.
(Updated on May 31, 2024)

PDEC Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.0937%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Innovator U.S. Equity Power Buffer - 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 $37.05 and $36.61. A breakdown below any of these levels will issue sell signals. The ETF had a Golden Star Signal on Thursday, May 02, 2024 in the short-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 Innovator U.S. Equity Power Buffer - ETF

Innovator U.S. Equity Power Buffer - finds support from accumulated volume at $36.76 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.175 between high and low, or 0.475%. For the last week the ETF has had daily average volatility of 0.235%

Our recommended stop-loss: $35.94 (-3.10%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (PDEC) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Innovator U.S. Equity Power Buffer ETF - December to open at $37.03, and during the day (based on 14 day Average True Range), to move between $36.97 and $37.20, which gives a possible trading interval of +/-$0.118 (+/-0.32%) up or down from last closing price. If Innovator U.S. Equity Power Buffer ETF - December takes out the full calculated possible swing range there will be an estimated 0.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $37.09 (0.01%) than the support at $36.76 (0.88%), 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 Innovator U.S. Equity Power Buffer ETF - December ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Innovator U.S. Equity Power Buffer - 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: 2.687 Buy Candidate Upgraded

Predicted Opening Price for Innovator U.S. Equity Power Buffer ETF - December of Monday, June 3, 2024

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