Invesco S&P 500 Downside Hedged ETF Forecast

Invesco S&P 500 Downside Hedged ETF downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)

PHDG Signals & Forecast

There are mixed signals in the ETF today. The Invesco S&P 500 Downside Hedged ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $36.23. On a fall, the ETF will find some support from the short-term average at $35.42. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Invesco S&P 500 Downside Hedged 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". A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.526%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Thursday, May 25, 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.

Support, Risk & Stop-loss for Invesco S&P 500 Downside Hedged ETF

Invesco S&P 500 Downside Hedged finds support from accumulated volume at $35.36 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 $0.170 between high and low, or 0.480%. For the last week the ETF has had daily average volatility of 0.359%.

Our recommended stop-loss: $33.65 (-5.09%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (PHDG) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Invesco S&P 500 Downside Hedged ETF to open at $35.46, and during the day (based on 14 day Average True Range), to move between $35.17 and $35.74, which gives a possible trading interval of +/-$0.285 (+/-0.80%) up or down from last closing price. If Invesco S&P 500 Downside Hedged ETF takes out the full calculated possible swing range there will be an estimated 1.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $35.36 (0.27%) than the resistance at $36.24 (2.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Invesco S&P 500 Downside Hedged ETF ETF A Buy?

Invesco S&P 500 Downside Hedged holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.699 Hold/Accumulate Downgraded

Predicted Opening Price for Invesco S&P 500 Downside Hedged ETF of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.