POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF Forecast
Stronger technical forecast for POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF price after Friday trading.
(Updated on May 24, 2024)
The POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF price gained 0.202% on the last trading day (Friday, 24th May 2024), rising from $19.84 to $19.88. During the last trading day the ETF fluctuated 0.799% from a day low at $19.82 to a day high of $19.97. The price has risen in 5 of the last 10 days but is still down by -2.93% for this period. Volume fell on the last day by -35 thousand shares and in total, 185 thousand shares were bought and sold for approximately $3.68 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.44% during the next 3 months and, with a 90% probability hold a price between $20.00 and $21.48 at the end of this 3-month period.
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PEY Signals & Forecast
The POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $20.31 and $20.10. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.202%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. The ETF had a Golden Star Signal on Tuesday, March 05, 2024 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 Tuesday, March 05, 2024 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 POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF
POWERSHARES HIGH YIELD EQUITY DIVIDEND finds support from accumulated volume at $19.81 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 $0.158 between high and low, or 0.799%. For the last week the ETF has had daily average volatility of 1.09%.
Our recommended stop-loss: $18.75 (-5.66%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PEY) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO to open at $19.89, and during the day (based on 14 day Average True Range), to move between $19.66 and $20.10, which gives a possible trading interval of +/-$0.224 (+/-1.13%) up or down from last closing price. If POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO takes out the full calculated possible swing range there will be an estimated 2.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.93 (0.25%) than the support at $19.81 (0.35%), 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 POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.367 Buy Candidate Upgraded
Predicted Opening Price for POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
$19.89 ( 0.0475%) | $19.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PEY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.05 | 0.84 % | |
R2 | 19.99 | 0.540 % | ||
R1 | 19.95 | 0.352 % | ||
Current price: | 19.88 | |||
Support | S1 | 19.83 | -0.257 % | |
S2 | 19.79 | -0.445 % | ||
S3 | 19.73 | -0.749 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.15 | 1.36 % | |
R2 | 19.99 | 0.553 % | ||
R1 | 19.93 | 0.252 % | ||
Current price | 19.88 | |||
Support | S1 | 19.81 | -0.352% | |
S2 | 19.72 | -0.80% | ||
S3 | 19.47 | -2.06% |
PEY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 20, 2024 | May 20, 2024 | May 24, 2024 | $0.0757 | 0.380% |
2 | Apr 22, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.0701 | 0.351% |
3 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0770 | 0.384% |
4 | Feb 20, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0806 | 0.408% |
5 | Jan 22, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0843 | 0.410% |
FAQ
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