PowerShares S&P SmallCap Consumer ETF Forecast
Weaker technical forecast for PowerShares S&P SmallCap Consumer as ETF downgraded to Hold/Accumulate.
(Updated on May 03, 2024)
The PowerShares S&P SmallCap Consumer ETF price gained 0.0357% on the last trading day (Friday, 3rd May 2024), rising from $36.13 to $36.14. 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 1.10% from a day low at $36.14 to a day high of $36.54. The price has risen in 6 of the last 10 days and is up by 1.75% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 4 thousand shares were bought and sold for approximately $149.31 thousand. 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 the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $36.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -6.71% during the next 3 months and, with a 90% probability hold a price between $31.97 and $33.78 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PSCC Signals & Forecast
The PowerShares S&P SmallCap Consumer 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 $35.67 and $35.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for PowerShares S&P SmallCap Consumer ETF
PowerShares S&P SmallCap Consumer finds support from accumulated volume at $35.69 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.397 between high and low, or 1.10%. For the last week the ETF has had daily average volatility of 1.10%
Our recommended stop-loss: $34.53 (-4.47%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (PSCC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PowerShares S&P SmallCap Consumer Staples Portfolio to open at $36.28, and during the day (based on 14 day Average True Range), to move between $35.71 and $36.57, which gives a possible trading interval of +/-$0.430 (+/-1.19%) up or down from last closing price. If PowerShares S&P SmallCap Consumer Staples Portfolio takes out the full calculated possible swing range there will be an estimated 2.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.46 (0.88%) than the support at $35.69 (1.24%), 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 PowerShares S&P SmallCap Consumer Staples Portfolio ETF A Buy?
PowerShares S&P SmallCap Consumer 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: 0.852 Hold/Accumulate Downgraded
Predicted Opening Price for PowerShares S&P SmallCap Consumer Staples Portfolio of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $36.28 ( 0.366%) | $36.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.67 | 1.46 % | |
| R2 | 36.52 | 1.05 % | ||
| R1 | 36.43 | 0.786 % | ||
| Current price: | 36.14 | |||
| Support | S1 | 36.12 | -0.0535 % | |
| S2 | 36.03 | -0.313 % | ||
| S3 | 35.88 | -0.732 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.90 | 2.11 % | |
| R2 | 36.70 | 1.53 % | ||
| R1 | 36.46 | 0.88 % | ||
| Current price | 36.14 | |||
| Support | S1 | 35.69 | -1.24% | |
| S2 | 34.97 | -3.24% | ||
| S3 | 34.89 | -3.48% |
PSCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.131 | 0.357% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.116 | 0.303% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.145 | 0.412% |
| 4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.151 | 0.421% |
| 5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.476 | 1.34% |
FAQ
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