Invesco Alerian Galaxy Crypto Economy ETF Forecast
Invesco Alerian Galaxy Crypto Economy ETF upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Invesco Alerian Galaxy Crypto Economy ETF price gained 0.501% on the last trading day (Tuesday, 2nd Jul 2024), rising from $16.79 to $16.87. During the last trading day the ETF fluctuated 0.566% from a day low at $16.79 to a day high of $16.89. The price has been going up and down for this period, and there has been a 0.06% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $34.94 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $16.82, a level that may pose a second chance to hit a runner. According to fan-theory $18.92 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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 $16.26 and $15.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 42.48%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Invesco Alerian Galaxy Crypto Economy ETF
Invesco Alerian Galaxy Crypto Economy finds support from accumulated volume at $16.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.0950 between high and low, or 0.566%. For the last week the ETF has had daily average volatility of 1.97%.
Our recommended stop-loss: $16.31 (-3.30%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (SATO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Invesco Alerian Galaxy Crypto Economy Etf to open at $16.85, and during the day (based on 14 day Average True Range), to move between $16.28 and $17.46, which gives a possible trading interval of +/-$0.588 (+/-3.49%) 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 6.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.86, some $0.0100 (0.06%) from the current price of $16.87, our system finds the risk reward attractive.
Is Invesco Alerian Galaxy Crypto Economy Etf ETF A Buy?
Invesco Alerian Galaxy Crypto Economy holds several positive signals and has broken the strong rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.407 Strong Buy Candidate Upgraded
Predicted Opening Price for Invesco Alerian Galaxy Crypto Economy Etf of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $16.85 ( 0.128%) | $16.87 |
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 | 16.94 | 0.435% |
| R2 | 16.91 | 0.220% |
| R1 | 16.88 | 0.0867% |
| Price | 16.87 | |
| S1 | 16.81 | -0.344% |
| S2 | 16.79 | -0.476% |
| S3 | 16.75 | -0.692% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 16.87 | |
| S1 | 16.86 | -0.0593% |
| S2 | 15.37 | -8.89% |
| S3 | 13.75 | -18.49% |
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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