PowerShares S&P SmallCap Consumer ETF Forecast

Red day on Thursday for PowerShares S&P SmallCap Consumer ETF after losing 0.0534%
(Updated on Apr 18, 2024)

PSCD Signals & Forecast

There are few to no technical positive signals at the moment. The PowerShares S&P SmallCap Consumer ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $98.61 and $103.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -11.24%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Friday, May 05, 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 PowerShares S&P SmallCap Consumer ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.617 between high and low, or 0.637%. For the last week the ETF has had daily average volatility of 0.280%.

PowerShares S&P SmallCap Consumer is oversold on RSI14 (5). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Trading Expectations (PSCD) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect PowerShares S&P SmallCap Consumer Discretionary Portfolio to open at $96.99, and during the day (based on 14 day Average True Range), to move between $95.57 and $97.99, which gives a possible trading interval of +/-$1.21 (+/-1.25%) up or down from last closing price. If PowerShares S&P SmallCap Consumer Discretionary Portfolio takes out the full calculated possible swing range there will be an estimated 2.50% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $97.70, some $0.92 (0.95%) from the current price of $96.78, our system finds the risk reward not very attractive.

Is PowerShares S&P SmallCap Consumer Discretionary Portfolio ETF A Buy?

PowerShares S&P SmallCap Consumer holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -2.291 Sell Candidate Unchanged

Predicted Opening Price for PowerShares S&P SmallCap Consumer Discretionary Portfolio of Friday, April 19, 2024

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