POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF Forecast
POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF price ended at $19.51 on Friday, after losing 0.763%.
(Updated on Jun 14, 2024)
The POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF price fell by -0.763% on the last day (Friday, 14th Jun 2024) from $19.66 to $19.51. During the last trading day the ETF fluctuated 1.21% from a day low at $19.36 to a day high of $19.59. The price has fallen in 9 of the last 10 days and is down by -3.42% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -44 thousand shares and in total, 188 thousand shares were bought and sold for approximately $3.67 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF with a 90% probability to be traded between $19.08 and $20.48 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PEY Signals & Forecast
There are few to no technical positive signals at the moment. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $19.72 and $20.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -3.42%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -3.72% to $18.78 within 35 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF
POWERSHARES HIGH YIELD EQUITY DIVIDEND finds support from accumulated volume at $19.50 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 $0.235 between high and low, or 1.21%. For the last week the ETF has had daily average volatility of 1.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PEY) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO to open at $19.49, and during the day (based on 14 day Average True Range), to move between $19.27 and $19.75, which gives a possible trading interval of +/-$0.244 (+/-1.25%) 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 2.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.50 (0.05%) than the resistance at $19.74 (1.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO ETF A Buy?
POWERSHARES HIGH YIELD EQUITY DIVIDEND holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -3.734 Sell Candidate Unchanged
Predicted Opening Price for POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $19.49 ( 0.128%) | $19.51 |
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 | |
|---|---|---|
| R3 | 19.72 | 1.08% |
| R2 | 19.63 | 0.616% |
| R1 | 19.57 | 0.332% |
| Price | 19.51 | |
| S1 | 19.40 | -0.588% |
| S2 | 19.34 | -0.87% |
| S3 | 19.25 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.15 | 3.28% |
| R2 | 19.93 | 2.15% |
| R1 | 19.74 | 1.18% |
| Price | 19.51 | |
| S1 | 19.50 | -0.0513% |
| S2 | 19.37 | -0.718% |
| S3 | 19.30 | -1.08% |
PEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 24, 2024 | $0.0757 | 0.381% |
| 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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