PowerShares S&P SmallCap Financials ETF Forecast
PowerShares S&P SmallCap Financials ETF upgraded to Buy Candidate.
(Updated on May 02, 2024)
The PowerShares S&P SmallCap Financials ETF price gained 1.49% on the last trading day (Thursday, 2nd May 2024), rising from $46.24 to $46.93. During the last trading day the ETF fluctuated 0.491% from a day low at $46.80 to a day high of $47.03. The price has risen in 8 of the last 10 days and is up by 4.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $120.99 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PowerShares S&P SmallCap Financials ETF with a 90% probability to be traded between $44.01 and $47.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PSCF Signals & Forecast
The PowerShares S&P SmallCap Financials 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 $46.43 and $46.46. 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). PowerShares S&P SmallCap Financials has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, April 24, 2024, and so far it has fallen -0.237%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for PowerShares S&P SmallCap Financials ETF
PowerShares S&P SmallCap Financials finds support from accumulated volume at $46.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.230 (0.491%) between high and low. For the last week, the ETF has had daily average volatility of 0.572%.
Our recommended stop-loss: $45.14 (-3.83%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (PSCF) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect PowerShares S&P SmallCap Financials Portfolio to open at $46.92, and during the day (based on 14 day Average True Range), to move between $46.31 and $47.55, which gives a possible trading interval of +/-$0.618 (+/-1.32%) up or down from last closing price. If PowerShares S&P SmallCap Financials Portfolio takes out the full calculated possible swing range there will be an estimated 2.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.04 (0.24%) than the support at $46.78 (0.31%), 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 Financials Portfolio ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for PowerShares S&P SmallCap Financials ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.611 Buy Candidate Upgraded
Predicted Opening Price for PowerShares S&P SmallCap Financials Portfolio of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$46.92 ( 0.0232%) | $46.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSCF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.15 | 0.467 % | |
R2 | 47.06 | 0.280 % | ||
R1 | 47.01 | 0.164 % | ||
Current price: | 46.93 | |||
Support | S1 | 46.83 | -0.210 % | |
S2 | 46.78 | -0.326 % | ||
S3 | 46.69 | -0.513 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.63 | 1.49 % | |
R2 | 47.27 | 0.722 % | ||
R1 | 47.04 | 0.238 % | ||
Current price | 46.93 | |||
Support | S1 | 46.78 | -0.315% | |
S2 | 46.63 | -0.632% | ||
S3 | 46.63 | -0.653% |
PSCF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.278 | 0.593% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.355 | 0.721% |
3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.489 | 1.18% |
4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.431 | 1.07% |
5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.361 | 0.86% |
FAQ
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