Invesco California AMT-Free Municipal ETF Forecast

$24.87
-0.0800 (-0.321%)
At Close: Mar 28, 2024
RSI low/high Values: [ 20 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
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Weaker technical forecast for Invesco California AMT-Free Municipal as ETF downgraded to Sell Candidate.
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The Invesco California AMT-Free Municipal ETF price fell by -0.321% on the last day (Thursday, 28th Mar 2024) from $24.95 to $24.87. During the last trading day the ETF fluctuated 0.483% from a day low at $24.81 to a day high of $24.93. The price has fallen in 6 of the last 10 days and is down by -0.48% for this period. Volume has increased on the last day by 64 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 128 thousand shares were bought and sold for approximately $3.18 million.

The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $24.88 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.

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PWZ Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco California AMT-Free Municipal ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $24.94 and $25.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -1.00%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Wednesday, March 13, 2024 with a target of $25.18. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.

Support, Risk & Stop-loss for Invesco California AMT-Free Municipal ETF

Invesco California AMT-Free Municipal finds support from accumulated volume at $24.86 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 $0.120 between high and low, or 0.483%. For the last week the ETF has had daily average volatility of 0.652%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PWZ) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco California AMT-Free Municipal Bond ETF to open at $24.87, and during the day (based on 14 day Average True Range), to move between $24.71 and $25.03, which gives a possible trading interval of +/-$0.157 (+/-0.63%) up or down from last closing price. If Invesco California AMT-Free Municipal Bond ETF takes out the full calculated possible swing range there will be an estimated 1.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $24.86 (0.04%) than the resistance at $24.94 (0.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Invesco California AMT-Free Municipal Bond ETF ETF A Buy?

Invesco California AMT-Free Municipal holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.879 Sell Candidate Downgraded

Predicted Opening Price for Invesco California AMT-Free Municipal Bond ETF of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$24.87 ( 0.0001%) $24.87

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PWZ

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 24.99 0.482 %
R2 24.94 0.298 %
R1 24.92 0.184 %
Current price: 24.87
Support S1 24.82 -0.184 %
S2 24.80 -0.298 %
S3 24.75 -0.482 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 25.13 1.05 %
R2 25.01 0.563 %
R1 24.94 0.281 %
Current price 24.87
Support S1 24.86 -0.0402%
S2 24.84 -0.121%
S3 24.83 -0.161%

PWZ Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 05, 2024 Mar 18, 2024 Mar 22, 2024 $0.0660 0.264%
2 Jan 05, 2024 Feb 20, 2024 Feb 23, 2024 $0.0648 0.260%
3 Jan 05, 2024 Jan 22, 2024 Jan 26, 2024 $0.0660 0.266%
4 Dec 18, 2023 Dec 18, 2023 Dec 18, 2023 $0.0680 0.274%
5 Nov 20, 2023 Nov 20, 2023 Nov 20, 2023 $0.0610 0.255%

FAQ

What is the symbol for Invesco California AMT-Free Municipal Bond ETF ETF and on which exchange is it traded?
The symbol for Invesco California AMT-Free Municipal Bond ETF is PWZ and it is traded on the NYSEARCA (NYSE Arca).

Should I buy or sell Invesco California AMT-Free Municipal Bond ETF ETF?
Invesco California AMT-Free Municipal holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Invesco California AMT-Free Municipal Bond ETF ETF?
Invesco California AMT-Free Municipal Bond ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Invesco California AMT-Free Municipal Bond ETF ETF.

What's the current price of Invesco California AMT-Free Municipal Bond ETF ETF?
As of the end of day on the 2024-03-28, the price of an Invesco California AMT-Free Municipal Bond ETF (PWZ) share was $24.87.

What is the 52-week high and low for Invesco California AMT-Free Municipal Bond ETF ETF?
The 52-week high for Invesco California AMT-Free Municipal Bond ETF ETF is $25.32 and the 52-week low is $22.57.

What is the market capitalization of Invesco California AMT-Free Municipal Bond ETF ETF?
As of the 2024-03-28, the market capitalization of Invesco California AMT-Free Municipal Bond ETF is 821.823M.
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About Invesco California AMT-Free Municipal Bond ETF

The investment seeks to track the investment results (before fees and expenses) of the ICE BofAML California Long-Term Core Plus Municipal Securities Index. The fund generally will invest at least 80% of its total assets in municipal securities that comprise the underlying index and that also are exempt from the federal AMT. The underlying index is composed of U.S. dollar-denominated, investment grade, tax-exempt debt publicly issued by Californ... PWZ Profile

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