Invesco Stoxx Europe 600 Optimised ETF Forecast

Red day on Wednesday for Invesco Stoxx Europe 600 Optimised
(Updated on Jun 26, 2024)

SC02.F Signals & Forecast

The Invesco Stoxx Europe 600 Optimised ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 402.61€. On a fall, the ETF will find some support from the long-term average at approximately 397.74€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 24, 2024, and so far it has fallen -1.81%. 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 Stoxx Europe 600 Optimised ETF

Invesco Stoxx Europe 600 Optimised finds support from accumulated volume at 396.90€ 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 4.60€ between high and low, or 1.15%. For the last week the ETF has had daily average volatility of 0.640%

Our recommended stop-loss: 379.16€ (-4.91%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 43 days ago.)

Trading Expectations (SC02.F) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Invesco Stoxx Europe 600 Optimised Financial Services Ucits Etf to open at 400.28€, and during the day (based on 14 day Average True Range), to move between 395.10€ and 402.40€, which gives a possible trading interval of +/-3.65€ (+/-0.92%) up or down from last closing price. If Invesco Stoxx Europe 600 Optimised Financial Services Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 399.65€ (0.23%) than the support at 396.90€ (0.46%), 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 Stoxx Europe 600 Optimised Financial Services Ucits 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 Stoxx Europe 600 Optimised ETF to perform well in the short-term.

Current score: 1.206 Buy Candidate Unchanged

Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Financial Services Ucits Etf of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.