Invesco Stoxx Europe 600 Optimised ETF Forecast
Invesco Stoxx Europe 600 Optimised ETF price down 1.04% on Friday
(Updated on Jun 28, 2024)
The Invesco Stoxx Europe 600 Optimised ETF price fell by -1.04% on the last day (Friday, 28th Jun 2024) from 616.80€ to 610.40€. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 1.29% from a day low at 610.40€ to a day high of 618.30€. The price has been going up and down for this period, and there has been a 0.36% gain for the last 2 weeks. Volume has increased on the last day by 745 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, 748 shares were bought and sold for approximately 456.58€ thousand.
The ETF lies in the middle of a narrow and 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 -3.62% during the next 3 months and, with a 90% probability hold a price between 582.50€ and 606.73€ 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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SC00.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.362%. 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. The Invesco Stoxx Europe 600 Optimised 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 617.63€ and 624.96€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Invesco Stoxx Europe 600 Optimised gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Invesco Stoxx Europe 600 Optimised ETF
Invesco Stoxx Europe 600 Optimised finds support from accumulated volume at 609.00€ 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 7.90€ between high and low, or 1.29%. For the last week the ETF has had daily average volatility of 1.14%.
Our recommended stop-loss: 579.24€ (-5.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (SC00.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco Stoxx Europe 600 Optimised Chemicals Ucits Etf to open at 613.03€, and during the day (based on 14 day Average True Range), to move between 604.09€ and 616.71€, which gives a possible trading interval of +/-6.31€ (+/-1.03%) up or down from last closing price. If Invesco Stoxx Europe 600 Optimised Chemicals Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 609.00€ (0.23%) than the resistance at 629.40€ (3.11%), 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 Stoxx Europe 600 Optimised Chemicals Ucits Etf ETF A Buy?
Invesco Stoxx Europe 600 Optimised holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.756 Hold/Accumulate Unchanged
Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Chemicals Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 613.03€ ( 0.431%) | 610.40€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SC00.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 620.93 | 1.73% |
| R2 | 617.92 | 1.23% |
| R1 | 616.05 | 0.93% |
| Price | 610.40 | |
| S1 | 610.02 | -0.0630% |
| S2 | 608.15 | -0.368% |
| S3 | 605.13 | -0.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 637.80 | 4.49% |
| R2 | 631.00 | 3.37% |
| R1 | 629.40 | 3.11% |
| Price | 610.40 | |
| S1 | 609.00 | -0.229% |
| S2 | 608.20 | -0.360% |
| S3 | 0 | - |
FAQ
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