Invesco Golden Dragon China ETF Forecast
Green day on Thursday for Invesco Golden Dragon China
(Updated on Apr 25, 2024)
The Invesco Golden Dragon China ETF price gained 0.685% on the last trading day (Thursday, 25th Apr 2024), rising from $24.83 to $25.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.00% from a day low at $24.52 to a day high of $25.01. The price has risen in 5 of the last 10 days but is still down by -0.71% for this period. Volume fell on the last day by -39 thousand shares and in total, 31 thousand shares were bought and sold for approximately $771.93 thousand. 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 wide and 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 5.87% during the next 3 months and, with a 90% probability hold a price between $25.02 and $28.48 at the end of this 3-month period.
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PGJ Signals & Forecast
The Invesco Golden Dragon China ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.19 and $24.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Invesco Golden Dragon China ETF
Invesco Golden Dragon China finds support from accumulated volume at $24.33 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 controlled movements and therefore the general risk is considered 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 $0.490 between high and low, or 2.00%. For the last week the ETF has had daily average volatility of 1.69%.
Our recommended stop-loss: $24.14 (-3.46%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PGJ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Invesco Golden Dragon China ETF to open at $24.84, and during the day (based on 14 day Average True Range), to move between $24.55 and $25.45, which gives a possible trading interval of +/-$0.450 (+/-1.80%) up or down from last closing price. If Invesco Golden Dragon China ETF takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.48 (1.92%) than the support at $24.33 (2.68%), 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 Invesco Golden Dragon China ETF 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 Invesco Golden Dragon China ETF to perform well in the short-term.
Current score: 1.702 Buy Candidate Unchanged
Predicted Opening Price for Invesco Golden Dragon China ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $24.84 ( 0.627%) | $25.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.33 | 1.33 % | |
| R2 | 25.15 | 0.585 % | ||
| R1 | 25.03 | 0.122 % | ||
| Current price: | 25.00 | |||
| Support | S1 | 24.66 | -1.38 % | |
| S2 | 24.54 | -1.84 % | ||
| S3 | 24.35 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.18 | 4.72 % | |
| R2 | 25.60 | 2.40 % | ||
| R1 | 25.48 | 1.92 % | ||
| Current price | 25.00 | |||
| Support | S1 | 24.33 | -2.68% | |
| S2 | 23.67 | -5.32% | ||
| S3 | 23.54 | -5.84% |
PGJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.396 | 1.59% |
| 2 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.144 | 0.534% |
| 3 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0880 | 0.335% |
| 4 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0230 | 0.0811% |
| 5 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.0830 | 0.303% |
FAQ
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