Invesco California AMT-Free Municipal ETF Forecast
Weaker technical forecast for Invesco California AMT-Free Municipal as ETF downgraded to Sell Candidate.
(Updated on Mar 28, 2024)
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.
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
# | 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
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