Invesco DWA Industrials Momentum ETF Forecast

Invesco DWA Industrials Momentum ETF price down 0.386% on Wednesday
(Updated on Apr 24, 2024)

PRN Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco DWA Industrials Momentum 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 $135.87. On a fall, the ETF will find some support from the short-term average at $132.77. 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.23%. 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). Invesco DWA Industrials Momentum 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".

Support, Risk & Stop-loss for Invesco DWA Industrials Momentum ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $125.04 and $123.76. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Invesco DWA Industrials Momentum finds support just below today's level at $125.04. If this is broken, then the next support from accumulated volume will be at $123.76 and $120.29.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $3.54 (2.66%) between high and low. For the last week, the ETF has had daily average volatility of 1.63%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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

For the upcoming trading day on Thursday, 25th we expect Invesco DWA Industrials Momentum ETF to open at $134.63, and during the day (based on 14 day Average True Range), to move between $131.63 and $136.93, which gives a possible trading interval of +/-$2.65 (+/-1.97%) up or down from last closing price. If Invesco DWA Industrials Momentum ETF takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $134.35 (0.05%) than the support at $125.04 (6.88%), 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 DWA Industrials Momentum ETF ETF A Buy?

The Invesco DWA Industrials Momentum ETF holds several negative signals and despite the positive trend, we believe Invesco DWA Industrials Momentum will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -3.624 Sell Candidate Unchanged

Predicted Opening Price for Invesco DWA Industrials Momentum ETF of Thursday, April 25, 2024

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