Invesco Dynamic Semiconductors ETF Forecast
Green day on Tuesday for Invesco Dynamic Semiconductors ETF after gaining 1.39%
(Updated on Jul 02, 2024)
The Invesco Dynamic Semiconductors ETF price gained 1.39% on the last trading day (Tuesday, 2nd Jul 2024), rising from $62.76 to $63.63. During the last trading day the ETF fluctuated 1.79% from a day low at $62.51 to a day high of $63.63. The price has been going up and down for this period, and there has been a -0.48% loss for the last 2 weeks. Volume fell on the last day by -131 thousand shares and in total, 50 thousand shares were bought and sold for approximately $3.17 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 18.84% during the next 3 months and, with a 90% probability hold a price between $69.62 and $78.87 at the end of this 3-month period.
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PSI Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.87%. 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). 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 $62.29 and $60.56. A breakdown below any of these levels will issue sell signals. 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 $62.76 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 $1.12 between high and low, or 1.79%. For the last week, the ETF has had daily average volatility of 2.09%.
Our recommended stop-loss: $61.52 (-3.32%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (PSI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Invesco Dynamic Semiconductors ETF to open at $63.26, and during the day (based on 14 day Average True Range), to move between $62.17 and $65.09, which gives a possible trading interval of +/-$1.46 (+/-2.29%) 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 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.94 (0.49%) than the support at $62.76 (1.37%), 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, along with a general good trend, 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.
Current score: 4.733 Buy Candidate Unchanged
Predicted Opening Price for Invesco Dynamic Semiconductors ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $63.26 ( 0.587%) | $63.63 |
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 | |
|---|---|---|
| R3 | 64.38 | 1.17% |
| R2 | 63.95 | 0.501% |
| R1 | 63.68 | 0.0857% |
| Price | 63.63 | |
| S1 | 62.83 | -1.26% |
| S2 | 62.56 | -1.67% |
| S3 | 62.14 | -2.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 64.84 | 1.90% |
| R1 | 63.94 | 0.487% |
| Price | 63.63 | |
| S1 | 62.76 | -1.37% |
| S2 | 60.90 | -4.29% |
| S3 | 52.07 | -18.17% |
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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