Invesco Dynamic Semiconductors ETF Forecast
Stronger technical forecast for Invesco Dynamic Semiconductors ETF price after Friday trading.
(Updated on May 10, 2024)
The Invesco Dynamic Semiconductors ETF price gained 0.610% on the last trading day (Friday, 10th May 2024), rising from $55.77 to $56.11. During the last trading day the ETF fluctuated 1.61% from a day low at $55.90 to a day high of $56.80. The price has risen in 6 of the last 10 days and is up by 2.8% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 30 thousand shares were bought and sold for approximately $1.66 million. 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 wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco Dynamic Semiconductors ETF with a 90% probability to be traded between $51.24 and $60.01 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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PSI Signals & Forecast
Mostly positive signals in the chart today. The Invesco Dynamic Semiconductors 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 $55.38 and $54.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.00%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Invesco Dynamic Semiconductors ETF
Invesco Dynamic Semiconductors finds support from accumulated volume at $56.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.90 between high and low, or 1.61%. For the last week, the ETF has had daily average volatility of 1.24%.
Our recommended stop-loss: $53.94 (-3.86%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (PSI) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Invesco Dynamic Semiconductors ETF to open at $56.27, and during the day (based on 14 day Average True Range), to move between $54.81 and $57.41, which gives a possible trading interval of +/-$1.30 (+/-2.32%) up or down from last closing price. If Invesco Dynamic Semiconductors ETF takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $56.20 (0.16%) than the support at $56.00 (0.20%), 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 Invesco Dynamic Semiconductors ETF 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 Invesco Dynamic Semiconductors ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.861 Buy Candidate Upgraded
Predicted Opening Price for Invesco Dynamic Semiconductors ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $56.27 ( 0.285%) | $56.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.17 | 1.89 % | |
| R2 | 56.83 | 1.28 % | ||
| R1 | 56.61 | 0.90 % | ||
| Current price: | 56.11 | |||
| Support | S1 | 55.93 | -0.328 % | |
| S2 | 55.71 | -0.706 % | ||
| S3 | 55.37 | -1.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.22 | 3.76 % | |
| R2 | 57.01 | 1.60 % | ||
| R1 | 56.20 | 0.160 % | ||
| Current price | 56.11 | |||
| Support | S1 | 56.00 | -0.196% | |
| S2 | 53.21 | -5.17% | ||
| S3 | 52.07 | -7.20% |
PSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0520 | 0.107% |
| 2 | Jan 04, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0250 | 0.0598% |
| 3 | Jan 04, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0603 | 0.141% |
| 4 | Jan 04, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.184 | 0.462% |
| 5 | Jan 19, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.181 | 0.541% |
FAQ
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