PowerShares S&P SmallCap Financials ETF Forecast
Green day on Friday for PowerShares S&P SmallCap Financials
(Updated on May 03, 2024)
The PowerShares S&P SmallCap Financials ETF price gained 0.665% on the last trading day (Friday, 3rd May 2024), rising from $46.93 to $47.24. 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 1.09% from a day low at $47.22 to a day high of $47.73. The price has risen in 8 of the last 10 days and is up by 3.51% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 327 shares were bought and sold for approximately $15.45 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 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 $44.09 and $47.99 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 $46.46 and $46.49. 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 6.33%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
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.
In general the ETF tends to have controlled movements and therefore the general risk is considered 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 $0.515 between high and low, or 1.09%. For the last week the ETF has had daily average volatility of 0.778%.
Our recommended stop-loss: $45.28 (-4.17%) (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 (PSCF) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PowerShares S&P SmallCap Financials Portfolio to open at $47.40, and during the day (based on 14 day Average True Range), to move between $46.61 and $47.87, which gives a possible trading interval of +/-$0.631 (+/-1.34%) 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 2.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.27 (0.06%) than the support at $46.78 (0.97%), 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.
Current score: 2.025 Buy Candidate Unchanged
Predicted Opening Price for PowerShares S&P SmallCap Financials Portfolio of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $47.40 ( 0.323%) | $47.24 |
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 | 47.91 | 1.41 % | |
| R2 | 47.71 | 1.00 % | ||
| R1 | 47.59 | 0.739 % | ||
| Current price: | 47.24 | |||
| Support | S1 | 47.20 | -0.0933 % | |
| S2 | 47.08 | -0.350 % | ||
| S3 | 46.88 | -0.767 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.63 | 0.82 % | |
| R2 | 47.29 | 0.0891 % | ||
| R1 | 47.27 | 0.0559 % | ||
| Current price | 47.24 | |||
| Support | S1 | 46.78 | -0.97% | |
| S2 | 46.63 | -1.29% | ||
| S3 | 46.63 | -1.31% |
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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