Invesco Water Resources ETF Forecast
Invesco Water Resources ETF price ended at $66.15 on Friday, after gaining 1.10%.
(Updated on May 03, 2024)
The Invesco Water Resources ETF price gained 1.10% on the last trading day (Friday, 3rd May 2024), rising from $65.43 to $66.15. It has now gained 3 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 0.771% from a day low at $65.91 to a day high of $66.41. The price has risen in 7 of the last 10 days and is up by 4.54% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 110 thousand shares were bought and sold for approximately $7.28 million. 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 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 4.66% during the next 3 months and, with a 90% probability hold a price between $65.46 and $70.95 at the end of this 3-month period.
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PHO Signals & Forecast
The Invesco Water Resources ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $64.94 and $64.93. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 28, 2024, and so far it has fallen -0.631%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Invesco Water Resources ETF
Invesco Water Resources finds support from accumulated volume at $64.18 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 $0.508 between high and low, or 0.771%. For the last week the ETF has had daily average volatility of 1.16%.
Our recommended stop-loss: $64.10 (-3.10%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (PHO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Invesco Water Resources ETF to open at $66.16, and during the day (based on 14 day Average True Range), to move between $65.33 and $66.97, which gives a possible trading interval of +/-$0.82 (+/-1.24%) up or down from last closing price. If Invesco Water Resources ETF takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $66.22 (0.11%) than the support at $64.18 (2.98%), 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 Water Resources 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 Water Resources ETF to perform well in the short-term.
Current score: 1.474 Buy Candidate Unchanged
Predicted Opening Price for Invesco Water Resources ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $66.16 ( 0.0106%) | $66.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.67 | 0.779 % | |
| R2 | 66.47 | 0.485 % | ||
| R1 | 66.35 | 0.304 % | ||
| Current price: | 66.15 | |||
| Support | S1 | 65.96 | -0.283 % | |
| S2 | 65.84 | -0.464 % | ||
| S3 | 65.65 | -0.757 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.43 | 0.423 % | |
| R2 | 66.40 | 0.378 % | ||
| R1 | 66.22 | 0.106 % | ||
| Current price | 66.15 | |||
| Support | S1 | 64.18 | -2.98% | |
| S2 | 63.48 | -4.04% | ||
| S3 | 59.52 | -10.02% |
PHO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0629 | 0.0950% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.115 | 0.189% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0500 | 0.0942% |
| 4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.116 | 0.212% |
| 5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0790 | 0.154% |
FAQ
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