Invesco S&P SmallCap 600 Pure Value ETF Forecast
Invesco S&P SmallCap 600 Pure Value ETF price ended at $103.12 on Monday, after gaining 0.97%.
(Updated on May 06, 2024)
The Invesco S&P SmallCap 600 Pure Value ETF price gained 0.97% on the last trading day (Monday, 6th May 2024), rising from $102.13 to $103.12. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.287% from a day low at $103.05 to a day high of $103.35. The price has risen in 6 of the last 10 days and is up by 2.6% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $218.72 thousand. 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 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 -2.28% during the next 3 months and, with a 90% probability hold a price between $95.35 and $104.03 at the end of this 3-month period.
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RZV Signals & Forecast
The Invesco S&P SmallCap 600 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 $101.14 and $102.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.12%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Invesco S&P SmallCap 600 Pure Value ETF
Invesco S&P SmallCap 600 Pure Value finds support from accumulated volume at $103.01 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.296 between high and low, or 0.287%. For the last week the ETF has had daily average volatility of 1.21%
Our recommended stop-loss: $98.56 (-4.42%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (RZV) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Invesco S&P SmallCap 600 Pure Value ETF to open at $103.17, and during the day (based on 14 day Average True Range), to move between $101.52 and $104.71, which gives a possible trading interval of +/-$1.59 (+/-1.55%) up or down from last closing price. If Invesco S&P SmallCap 600 Pure Value ETF takes out the full calculated possible swing range there will be an estimated 3.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $103.01 (0.11%) than the resistance at $103.43 (0.30%), 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 S&P SmallCap 600 Pure Value ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 2.063 Buy Candidate Unchanged
Predicted Opening Price for Invesco S&P SmallCap 600 Pure Value ETF of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$103.17 ( 0.0511%) | $103.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RZV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 103.47 | 0.338 % | |
R2 | 103.35 | 0.228 % | ||
R1 | 103.28 | 0.161 % | ||
Current price: | 103.12 | |||
Support | S1 | 103.06 | -0.0584 % | |
S2 | 102.99 | -0.126 % | ||
S3 | 102.88 | -0.236 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 104.96 | 1.79 % | |
R2 | 103.59 | 0.457 % | ||
R1 | 103.43 | 0.302 % | ||
Current price | 103.12 | |||
Support | S1 | 103.01 | -0.106% | |
S2 | 100.92 | -2.13% | ||
S3 | 100.49 | -2.55% |
RZV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.328 | 0.316% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.285 | 0.273% |
3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.272 | 0.301% |
4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.335 | 0.377% |
5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.315 | 0.368% |
FAQ
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