Invesco Preferred ETF Forecast
Weaker technical forecast for Invesco Preferred as ETF downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The Invesco Preferred ETF price fell by -0.669% on the last day (Thursday, 28th Mar 2024) from $11.96 to $11.88. During the last trading day the ETF fluctuated 1.26% from a day low at $11.88 to a day high of $12.03. The price has fallen in 5 of the last 10 days and is down by -0.17% for this period. Volume has increased on the last day by 927 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, 5 million shares were bought and sold for approximately $63.16 million.
Given the current short-term trend, the ETF is expected to rise 3.98% during the next 3 months and, with a 90% probability hold a price between $12.35 and $12.54 at the end of this 3-month period.
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PGX Signals & Forecast
The Invesco Preferred ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $11.95. On a fall, the ETF will find some support from the long-term average at approximately $11.87. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -1.16%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Invesco Preferred ETF
Invesco Preferred finds support from accumulated volume at $11.86 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 $0.150 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 0.88%.
Our recommended stop-loss: $11.46 (-3.55%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (PGX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco Preferred ETF to open at $11.93, and during the day (based on 14 day Average True Range), to move between $11.79 and $11.97, which gives a possible trading interval of +/-$0.0890 (+/-0.75%) up or down from last closing price. If Invesco Preferred ETF takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.89 (0.08%) than the support at $11.86 (0.17%), 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 Preferred ETF ETF A Buy?
Invesco Preferred holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.247 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco Preferred ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$11.93 ( 0.421%) | $11.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.08 | 1.68 % | |
R2 | 12.02 | 1.20 % | ||
R1 | 11.99 | 0.90 % | ||
Current price: | 11.88 | |||
Support | S1 | 11.87 | -0.0614 % | |
S2 | 11.84 | -0.359 % | ||
S3 | 11.78 | -0.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.00 | 1.01 % | |
R2 | 11.96 | 0.673 % | ||
R1 | 11.89 | 0.0842 % | ||
Current price | 11.88 | |||
Support | S1 | 11.86 | -0.168% | |
S2 | 11.80 | -0.673% | ||
S3 | 11.47 | -3.45% |
PGX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 11, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0577 | 0.482% |
2 | Jan 11, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0556 | 0.468% |
3 | Jan 11, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0576 | 0.488% |
4 | Jan 02, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.0689 | 0.598% |
5 | Jan 02, 2023 | Nov 20, 2023 | Nov 24, 2023 | $0.0600 | 0.549% |
FAQ
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