POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF Forecast
Weaker technical forecast for POWERSHARES HIGH YIELD EQUITY DIVIDEND as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The POWERSHARES HIGH YIELD EQUITY DIVIDEND ETF price fell by -1.16% on the last day (Tuesday, 25th Jun 2024) from $19.85 to $19.62. During the last trading day the ETF fluctuated 1.23% from a day low at $19.60 to a day high of $19.84. The price has risen in 5 of the last 10 days but is still down by -0.51% for this period. Volume has increased on the last day by 95 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 288 thousand shares were bought and sold for approximately $5.64 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 $18.70 and $20.16 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
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.564%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $19.65 and $20.03. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
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 -4.26% to $18.78 within 35 trading days since signal was issued (Wednesday, July 10, 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 $0.240 between high and low, or 1.23%. For the last week the ETF has had daily average volatility of 1.03%.
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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO to open at $19.69, and during the day (based on 14 day Average True Range), to move between $19.39 and $19.85, which gives a possible trading interval of +/-$0.231 (+/-1.18%) 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 2.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.74 (0.61%) than the support at $19.50 (0.61%), 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?
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. 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: -1.208 Sell Candidate Downgraded
Predicted Opening Price for POWERSHARES HIGH YIELD EQUITY DIVIDEND ACHIEVERS PORTFOLIO of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $19.69 ( 0.339%) | $19.62 |
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 | 19.93 | 1.56% |
| R2 | 19.84 | 1.10% |
| R1 | 19.78 | 0.81% |
| Price | 19.62 | |
| S1 | 19.59 | -0.129% |
| S2 | 19.54 | -0.418% |
| S3 | 19.45 | -0.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.15 | 2.70% |
| R2 | 19.99 | 1.89% |
| R1 | 19.74 | 0.612% |
| Price | 19.62 | |
| S1 | 19.50 | -0.612% |
| S2 | 19.37 | -1.27% |
| S3 | 19.30 | -1.63% |
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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