Invesco S&P 500 Equal Weight Technology ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Invesco S&P 500 Equal Weight Technology ETF price ended at $33.79 on Thursday, after losing 0.266%.
(Updated on May 09, 2024)
The Invesco S&P 500 Equal Weight Technology ETF price fell by -0.266% on the last day (Thursday, 9th May 2024) from $33.88 to $33.79. During the last trading day the ETF fluctuated 0.624% from a day low at $33.61 to a day high of $33.82. The price has risen in 6 of the last 10 days and is up by 1.72% over the past 2 weeks. Volume has increased on the last day by 354 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, 639 thousand shares were bought and sold for approximately $21.58 million.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.54% during the next 3 months and, with a 90% probability hold a price between $30.69 and $33.61 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RSPT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.23%. 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. The Invesco S&P 500 Equal Weight Technology 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 $33.94. On a fall, the ETF will find some support from the short-term average at $33.43. 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. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Tuesday, May 16, 2023 in the long-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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, May 16, 2023 in the long-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 500 Equal Weight Technology ETF
Invesco S&P 500 Equal Weight Technology finds support from accumulated volume at $33.49 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 $0.210 between high and low, or 0.624%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RSPT) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Invesco S&P 500 Equal Weight Technology ETF to open at $33.74, and during the day (based on 14 day Average True Range), to move between $33.28 and $34.30, which gives a possible trading interval of +/-$0.510 (+/-1.51%) up or down from last closing price. If Invesco S&P 500 Equal Weight Technology ETF takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.97 (0.53%) than the support at $33.49 (0.89%), 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 500 Equal Weight Technology ETF ETF A Buy?
Invesco S&P 500 Equal Weight Technology holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.050 Sell Candidate Unchanged
Predicted Opening Price for Invesco S&P 500 Equal Weight Technology ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $33.74 ( 0.148%) | $33.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSPT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.95 | 0.472 % | |
| R2 | 33.87 | 0.235 % | ||
| R1 | 33.82 | 0.0888 % | ||
| Current price: | 33.79 | |||
| Support | S1 | 33.66 | -0.385 % | |
| S2 | 33.61 | -0.532 % | ||
| S3 | 33.53 | -0.769 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.21 | 4.20 % | |
| R2 | 34.03 | 0.710 % | ||
| R1 | 33.97 | 0.533 % | ||
| Current price | 33.79 | |||
| Support | S1 | 33.49 | -0.89% | |
| S2 | 33.47 | -0.95% | ||
| S3 | 32.55 | -3.67% |
RSPT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0423 | 0.121% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0470 | 0.146% |
| 3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0440 | 0.157% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0449 | 0.159% |
| 5 | Mar 20, 2023 | Mar 20, 2023 | Mar 20, 2023 | $0.464 | 1.77% |
FAQ
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