Invesco S&P MidCap 400 Pure Value ETF Forecast

Green day on Monday for Invesco S&P MidCap 400 Pure Value
(Updated on May 06, 2024)

RFV Signals & Forecast

Mostly positive signals in the chart today. The Invesco S&P MidCap 400 Pure Value ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $111.96 and $113.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.48%. 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). 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. The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Invesco S&P MidCap 400 Pure Value ETF

Invesco S&P MidCap 400 Pure Value finds support from accumulated volume at $111.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.600 (0.527%) between high and low. For the last week, the ETF has had daily average volatility of 1.18%.

Our recommended stop-loss: $109.22 (-4.48%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (RFV) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Invesco S&P MidCap 400 Pure Value ETF to open at $114.15, and during the day (based on 14 day Average True Range), to move between $112.72 and $115.98, which gives a possible trading interval of +/-$1.63 (+/-1.42%) up or down from last closing price. If Invesco S&P MidCap 400 Pure Value 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 $114.71 (0.31%) than the support at $111.95 (2.10%), 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 S&P MidCap 400 Pure Value ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Invesco S&P MidCap 400 Pure Value ETF to perform well in the short-term period.

Current score: 2.645 Buy Candidate Unchanged

Predicted Opening Price for Invesco S&P MidCap 400 Pure Value ETF of Tuesday, May 7, 2024

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