Invesco Global Short Term High Yield ETF Forecast
Evaluation of Invesco Global Short Term High Yield ETF downgraded after the last trading session.
(Updated on Apr 18, 2024)
The Invesco Global Short Term High Yield ETF price fell by -0.665% on the last day (Thursday, 18th Apr 2024) from $19.54 to $19.41. During the last trading day the ETF fluctuated 0.618% from a day low at $19.41 to a day high of $19.53. The price has fallen in 6 of the last 10 days and is down by -1.72% for this period. Volume has increased on the last day by 63 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, 73 thousand shares were bought and sold for approximately $1.42 million.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $19.51 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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PGHY Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Global Short Term High Yield 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 $19.53 and $19.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -1.87%. 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). Invesco Global Short Term High Yield gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The ETF had a Golden Star Signal on Wednesday, June 28, 2023 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 Wednesday, June 28, 2023 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.
A sell signal from a double top formation was found on Wednesday, March 13, 2024 with a target of $19.71. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for Invesco Global Short Term High Yield ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.120 between high and low, or 0.618%. For the last week the ETF has had daily average volatility of 0.718%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PGHY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Invesco Global Short Term High Yield Bond ETF to open at $19.45, and during the day (based on 14 day Average True Range), to move between $19.29 and $19.53, which gives a possible trading interval of +/-$0.121 (+/-0.62%) up or down from last closing price. If Invesco Global Short Term High Yield Bond ETF takes out the full calculated possible swing range there will be an estimated 1.24% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $19.66, some $0.250 (1.29%) from the current price of $19.41, our system finds the risk reward not very attractive.
Is Invesco Global Short Term High Yield Bond ETF ETF A Buy?
Invesco Global Short Term High Yield holds several negative signals and is within a narrow and 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 Strong Sell candidate.
Current score: -5.130 Strong Sell Candidate Downgraded
Predicted Opening Price for Invesco Global Short Term High Yield Bond ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $19.45 ( 0.206%) | $19.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGHY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.57 | 0.82 % | |
| R2 | 19.52 | 0.588 % | ||
| R1 | 19.50 | 0.442 % | ||
| Current price: | 19.41 | |||
| Support | S1 | 19.40 | -0.0301 % | |
| S2 | 19.38 | -0.176 % | ||
| S3 | 19.33 | -0.412 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.82 | 2.11 % | |
| R2 | 19.75 | 1.75 % | ||
| R1 | 19.66 | 1.29 % | ||
| Current price | 19.41 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PGHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 11, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.122 | 0.618% |
| 2 | Jan 11, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.120 | 0.605% |
| 3 | Jan 11, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.130 | 0.660% |
| 4 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.132 | 0.677% |
| 5 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | $0.147 | 0.777% |
FAQ
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