PowerShares S&P SmallCap Utilities ETF Forecast
Green day on Wednesday for PowerShares S&P SmallCap Utilities
(Updated on May 01, 2024)
The PowerShares S&P SmallCap Utilities ETF price gained 0.767% on the last trading day (Wednesday, 1st May 2024), rising from $50.33 to $50.72. During the last trading day the ETF fluctuated 1.69% from a day low at $50.40 to a day high of $51.25. The price has risen in 8 of the last 10 days and is up by 4.72% 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, 469 more shares were traded than the day before. In total, 992 shares were bought and sold for approximately $50.31 thousand.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -4.03% during the next 3 months and, with a 90% probability hold a price between $45.96 and $49.44 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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PSCU Signals & Forecast
Mostly positive signals in the chart today. The PowerShares S&P SmallCap Utilities ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $50.55 and $50.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.05%. 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). PowerShares S&P SmallCap Utilities 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for PowerShares S&P SmallCap Utilities ETF
PowerShares S&P SmallCap Utilities finds support from accumulated volume at $50.41 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.85 between high and low, or 1.69%. For the last week the ETF has had daily average volatility of 0.483%.
Our recommended stop-loss: $48.20 (-4.97%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (PSCU) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PowerShares S&P SmallCap Utilities Portfolio to open at $50.79, and during the day (based on 14 day Average True Range), to move between $50.20 and $51.24, which gives a possible trading interval of +/-$0.520 (+/-1.03%) up or down from last closing price. If PowerShares S&P SmallCap Utilities Portfolio takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.79 (0.14%) than the support at $50.41 (0.61%), 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 Utilities Portfolio ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 2.641 Buy Candidate Unchanged
Predicted Opening Price for PowerShares S&P SmallCap Utilities Portfolio of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $50.79 ( 0.138%) | $50.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSCU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.64 | 1.81 % | |
| R2 | 51.32 | 1.17 % | ||
| R1 | 51.11 | 0.778 % | ||
| Current price: | 50.72 | |||
| Support | S1 | 50.47 | -0.502 % | |
| S2 | 50.26 | -0.90 % | ||
| S3 | 49.94 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.21 | 4.91 % | |
| R2 | 51.22 | 0.99 % | ||
| R1 | 50.79 | 0.139 % | ||
| Current price | 50.72 | |||
| Support | S1 | 50.41 | -0.611% | |
| S2 | 50.38 | -0.670% | ||
| S3 | 50.32 | -0.795% |
PSCU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.123 | 0.245% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.272 | 0.503% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.378 | 0.755% |
| 4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0250 | 0.0486% |
| 5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.191 | 0.356% |
FAQ
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