Invesco DWA Technology Momentum ETF Forecast
Invesco DWA Technology Momentum ETF price ended at $62.50 on Tuesday, after gaining 0.434%.
(Updated on Jul 02, 2024)
The Invesco DWA Technology Momentum ETF price gained 0.434% on the last trading day (Tuesday, 2nd Jul 2024), rising from $62.23 to $62.50. It has now gained 4 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 1.61% from a day low at $61.55 to a day high of $62.54. The price has risen in 6 of the last 10 days and is up by 1.25% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 16 thousand shares were bought and sold for approximately $1.00 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 13.74% during the next 3 months and, with a 90% probability hold a price between $65.35 and $73.94 at the end of this 3-month period.
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PTF Signals & Forecast
The Invesco DWA Technology Momentum 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 $61.37 and $59.87. 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 22.26%. 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 also not.
Support, Risk & Stop-loss for Invesco DWA Technology Momentum ETF
Invesco DWA Technology Momentum finds support from accumulated volume at $60.76 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 $0.99 between high and low, or 1.61%. For the last week the ETF has had daily average volatility of 1.58%.
Our recommended stop-loss: $60.56 (-3.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (PTF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Invesco DWA Technology Momentum ETF to open at $62.20, and during the day (based on 14 day Average True Range), to move between $61.43 and $63.57, which gives a possible trading interval of +/-$1.07 (+/-1.71%) up or down from last closing price. If Invesco DWA Technology Momentum ETF takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $60.76, some $1.74 (2.78%) from the current price of $62.50, our system finds the risk reward attractive.
Is Invesco DWA Technology Momentum ETF ETF A Buy?
Invesco DWA Technology Momentum holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.618 Strong Buy Candidate Unchanged
Predicted Opening Price for Invesco DWA Technology Momentum ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $62.20 ( 0.485%) | $62.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.19 | 1.10% |
| R2 | 62.81 | 0.494% |
| R1 | 62.57 | 0.120% |
| Price | 62.50 | |
| S1 | 61.82 | -1.09% |
| S2 | 61.58 | -1.46% |
| S3 | 61.21 | -2.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 62.50 | |
| S1 | 60.76 | -2.78% |
| S2 | 57.37 | -8.21% |
| S3 | 57.17 | -8.53% |
PTF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0160 | 0.0369% |
| 2 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0193 | 0.0418% |
| 3 | Sep 25, 2018 | Sep 24, 2018 | Sep 28, 2018 | $0.0030 | 0.0136% |
| 4 | Jun 15, 2018 | Jun 18, 2018 | Jun 29, 2018 | $0.0400 | 0.200% |
| 5 | Sep 18, 2017 | Sep 18, 2017 | Sep 29, 2017 | $0.0210 | 0.125% |
FAQ
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