Invesco Markets Plc - Invesco Euro Stoxx ETF Forecast
Evaluation of Invesco Markets Plc - Invesco Euro Stoxx ETF downgraded after the last trading session.
(Updated on Jun 19, 2024)
The Invesco Markets Plc - Invesco Euro Stoxx ETF price fell by -1.25% on the last day (Wednesday, 19th Jun 2024) from £8,333.28 to £8,229.00. During the last trading day the ETF fluctuated 0% from a day low at £8,229.00 to a day high of £8,229.00. The price has fallen in 4 of the last 10 days and is down by -6.44% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -539 shares and in total, 0 shares were bought and sold for approximately £0 .
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £8,127.68 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 7.87% during the next 3 months and, with a 90% probability hold a price between £8,767.46 and £10,254.03 at the end of this 3-month period.
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S7XP.L Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Markets Plc - Invesco Euro Stoxx 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 £8,416.60 and £8,783.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.25%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Invesco Markets Plc - Invesco Euro Stoxx ETF
Invesco Markets Plc - Invesco Euro Stoxx finds support from accumulated volume at £8,183.50 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.92%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (S7XP.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Invesco Markets Plc - Invesco Euro Stoxx Optimised Banks Ucits Etf to open at £8,229.00, and during the day (based on 14 day Average True Range), to move between £8,108.41 and £8,349.59, which gives a possible trading interval of +/-£120.59 (+/-1.47%) up or down from last closing price. If Invesco Markets Plc - Invesco Euro Stoxx Optimised Banks Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £8,183.50 (0.55%) than the resistance at £8,308.00 (0.96%), 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 Markets Plc - Invesco Euro Stoxx Optimised Banks Ucits Etf ETF A Buy?
The Invesco Markets Plc - Invesco Euro Stoxx ETF holds several negative signals and despite the positive trend, we believe Invesco Markets Plc - Invesco Euro Stoxx will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.982 Sell Candidate Downgraded
Predicted Opening Price for Invesco Markets Plc - Invesco Euro Stoxx Optimised Banks Ucits Etf of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| £8,229.00 ( 0%) | £8,229.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for S7XP.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,229.00 | - |
| R2 | 8,229.00 | - |
| R1 | 8,229.00 | - |
| Price | 8,229.00 | |
| S1 | 8,229.00 | - |
| S2 | 8,229.00 | - |
| S3 | 8,229.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,888.00 | 8.01% |
| R2 | 8,576.50 | 4.22% |
| R1 | 8,308.00 | 0.96% |
| Price | 8,229.00 | |
| S1 | 8,183.50 | -0.553% |
| S2 | 8,153.50 | -0.92% |
| S3 | 8,019.50 | -2.55% |
FAQ
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