Invesco Alerian Galaxy Crypto Economy ETF Forecast
Green day on Wednesday for Invesco Alerian Galaxy Crypto Economy
(Updated on Jun 26, 2024)
The Invesco Alerian Galaxy Crypto Economy ETF price gained 2.36% on the last trading day (Wednesday, 26th Jun 2024), rising from $16.23 to $16.61. During the last trading day the ETF fluctuated 2.40% from a day low at $16.22 to a day high of $16.61. The price has risen in 6 of the last 10 days and is up by 8.07% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately $137.65 thousand.
The ETF lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $17.16 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 22.18% during the next 3 months and, with a 90% probability hold a price between $16.80 and $20.97 at the end of this 3-month period.
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SATO Signals & Forecast
The Invesco Alerian Galaxy Crypto Economy ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.27 and $14.56. A breakdown below any of these levels will issue sell signals. Invesco Alerian Galaxy Crypto Economy has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -1.48%. 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).
Support, Risk & Stop-loss for Invesco Alerian Galaxy Crypto Economy ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $15.37 and $14.96. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Invesco Alerian Galaxy Crypto Economy finds support just below today's level at $15.37. If this is broken, then the next support from accumulated volume will be at $14.96 and $13.75.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $0.390 between high and low, or 2.40%. For the last week, the ETF has had daily average volatility of 3.00%.
Our recommended stop-loss: $15.89 (-4.31%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (SATO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Invesco Alerian Galaxy Crypto Economy Etf to open at $16.48, and during the day (based on 14 day Average True Range), to move between $15.98 and $17.24, which gives a possible trading interval of +/-$0.626 (+/-3.77%) up or down from last closing price. If Invesco Alerian Galaxy Crypto Economy Etf takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.73 (0.72%) than the support at $15.37 (7.47%), 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 Alerian Galaxy Crypto Economy Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Invesco Alerian Galaxy Crypto Economy ETF to perform well in the short-term.
Current score: 4.850 Buy Candidate Unchanged
Predicted Opening Price for Invesco Alerian Galaxy Crypto Economy Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $16.48 ( 0.782%) | $16.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SATO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.87 | 1.57% |
| R2 | 16.72 | 0.669% |
| R1 | 16.63 | 0.115% |
| Price | 16.61 | |
| S1 | 16.33 | -1.68% |
| S2 | 16.24 | -2.23% |
| S3 | 16.09 | -3.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 16.86 | 1.51% |
| R1 | 16.73 | 0.723% |
| Price | 16.61 | |
| S1 | 15.37 | -7.47% |
| S2 | 14.96 | -9.93% |
| S3 | 13.75 | -17.22% |
SATO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.122 | 0.87% |
| 2 | Dec 15, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.210 | 1.41% |
| 3 | Sep 15, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.0227 | 0.297% |
| 4 | Jun 16, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.0376 | 0.432% |
| 5 | Mar 17, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0404 | 0.656% |
FAQ
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