Invesco Nasdaq Next Gen 100 ETF Forecast
Evaluation of Invesco Nasdaq Next Gen 100 ETF downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Invesco Nasdaq Next Gen 100 ETF price gained 0.81% on the last trading day (Friday, 26th Apr 2024), rising from $27.23 to $27.45. During the last trading day the ETF fluctuated 1.03% from a day low at $27.24 to a day high of $27.52. The price has fallen in 7 of the last 10 days and is down by -0.87% for this period. Volume fell on the last day by -145 shares and in total, 82 thousand shares were bought and sold for approximately $2.26 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 horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco Nasdaq Next Gen 100 ETF with a 90% probability to be traded between $27.15 and $29.82 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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QQQJ Signals & Forecast
There are mixed signals in the ETF today. The Invesco Nasdaq Next Gen 100 ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $28.13. On a fall, the ETF will find some support from the short-term average at $27.08. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.20%. Further rise is indicated until a new top pivot has been found. 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 Nasdaq Next Gen 100 ETF
Invesco Nasdaq Next Gen 100 finds support from accumulated volume at $26.83 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 $0.280 between high and low, or 1.03%. For the last week, the ETF has had daily average volatility of 1.48%.
Our recommended stop-loss: $26.12 (-4.84%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (QQQJ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Invesco Nasdaq Next Gen 100 ETF to open at $27.40, and during the day (based on 14 day Average True Range), to move between $27.06 and $27.84, which gives a possible trading interval of +/-$0.391 (+/-1.43%) up or down from last closing price. If Invesco Nasdaq Next Gen 100 ETF takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.06 (2.22%) than the support at $26.83 (2.26%), 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 Nasdaq Next Gen 100 ETF ETF A Buy?
Invesco Nasdaq Next Gen 100 holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.593 Hold/Accumulate Downgraded
Predicted Opening Price for Invesco Nasdaq Next Gen 100 ETF of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$27.40 ( 0.170%) | $27.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQJ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.68 | 0.85 % | |
R2 | 27.58 | 0.460 % | ||
R1 | 27.51 | 0.220 % | ||
Current price: | 27.45 | |||
Support | S1 | 27.30 | -0.560 % | |
S2 | 27.23 | -0.80 % | ||
S3 | 27.12 | -1.19 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.30 | 3.10 % | |
R2 | 28.20 | 2.73 % | ||
R1 | 28.06 | 2.22 % | ||
Current price | 27.45 | |||
Support | S1 | 26.83 | -2.26% | |
S2 | 26.68 | -2.81% | ||
S3 | 26.60 | -3.10% |
QQQJ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0683 | 0.239% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.0438 | 0.163% |
3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0380 | 0.155% |
4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0500 | 0.198% |
5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0490 | 0.200% |
FAQ
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