Invesco Aerospace & Defense ETF Forecast
Invesco Aerospace & Defense ETF upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Invesco Aerospace & Defense ETF price gained 0.571% on the last trading day (Thursday, 25th Apr 2024), rising from $99.78 to $100.35. During the last trading day the ETF fluctuated 1.71% from a day low at $98.73 to a day high of $100.41. The price has been going up and down for this period, and there has been a 0.23% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 99 thousand more shares were traded than the day before. In total, 365 thousand shares were bought and sold for approximately $36.61 million.
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 9.08% during the next 3 months and, with a 90% probability hold a price between $107.78 and $114.00 at the end of this 3-month period.
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PPA Signals & Forecast
The Invesco Aerospace & Defense 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 $99.18 and $99.66. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Wednesday, March 27, 2024, and so far it has fallen -1.34%. 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).
Support, Risk & Stop-loss for Invesco Aerospace & Defense ETF
Invesco Aerospace & Defense finds support from accumulated volume at $99.87 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 $1.69 between high and low, or 1.71%. For the last week the ETF has had daily average volatility of 1.30%.
Our recommended stop-loss: $96.20 (-4.14%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (PPA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Invesco Aerospace & Defense ETF to open at $99.83, and during the day (based on 14 day Average True Range), to move between $99.08 and $101.62, which gives a possible trading interval of +/-$1.27 (+/-1.27%) up or down from last closing price. If Invesco Aerospace & Defense ETF takes out the full calculated possible swing range there will be an estimated 2.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $100.36 (0.01%) than the support at $99.87 (0.48%), 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 Aerospace & Defense 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 Aerospace & Defense ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.242 Buy Candidate Upgraded
Predicted Opening Price for Invesco Aerospace & Defense ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $99.83 ( 0.520%) | $100.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PPA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.51 | 1.16 % | |
| R2 | 100.87 | 0.518 % | ||
| R1 | 100.47 | 0.122 % | ||
| Current price: | 100.35 | |||
| Support | S1 | 99.18 | -1.16 % | |
| S2 | 98.79 | -1.56 % | ||
| S3 | 98.14 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.48 | 0.130 % | |
| R2 | 100.45 | 0.0997 % | ||
| R1 | 100.36 | 0.0100 % | ||
| Current price | 100.35 | |||
| Support | S1 | 99.87 | -0.478% | |
| S2 | 99.00 | -1.35% | ||
| S3 | 93.58 | -6.75% |
PPA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.114 | 0.114% |
| 2 | Jan 02, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.266 | 0.290% |
| 3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.117 | 0.147% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.127 | 0.155% |
| 5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.108 | 0.138% |
FAQ
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