Invesco Stoxx Europe 600 Optimised ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Invesco Stoxx Europe 600 Optimised ETF price down 0.126% on Friday
(Updated on Jun 28, 2024)
The Invesco Stoxx Europe 600 Optimised ETF price fell by -0.126% on the last day (Friday, 28th Jun 2024) from 396.95€ to 396.45€. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.91% from a day low at 396.45€ to a day high of 400.05€. The price has fallen in 6 of the last 10 days but is still up by 0.21% over the past 2 weeks. 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 -19 shares and in total, 1 shares were bought and sold for approximately 396.45€ .
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 7.95% during the next 3 months and, with a 90% probability hold a price between 419.49€ and 440.47€ at the end of this 3-month period.
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SC02.F Signals & Forecast
There are few to no technical positive signals at the moment. 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. On corrections up, there will be some resistance from the lines at 400.96€ and 398.26€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -2.38%. 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 396.35€ 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 3.60€ between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 1.05%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SC02.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Invesco Stoxx Europe 600 Optimised Financial Services Ucits Etf to open at 397.65€, and during the day (based on 14 day Average True Range), to move between 392.62€ and 400.28€, which gives a possible trading interval of +/-3.83€ (+/-0.97%) 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 1.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 396.35€ (0.03%) than the resistance at 396.90€ (0.11%), 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 Financial Services Ucits Etf ETF A Buy?
The Invesco Stoxx Europe 600 Optimised ETF holds several negative signals and despite the positive trend, we believe Invesco Stoxx Europe 600 Optimised will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.019 Sell Candidate Unchanged
Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Financial Services Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 397.65€ ( 0.303%) | 396.45€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SC02.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 401.25 | 1.21% |
| R2 | 399.87 | 0.86% |
| R1 | 399.03 | 0.650% |
| Price | 396.45 | |
| S1 | 396.27 | -0.0442% |
| S2 | 395.43 | -0.258% |
| S3 | 394.05 | -0.605% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 400.35 | 0.98% |
| R2 | 399.65 | 0.81% |
| R1 | 396.90 | 0.114% |
| Price | 396.45 | |
| S1 | 396.35 | -0.0252% |
| S2 | 373.30 | -5.84% |
| S3 | 370.70 | -6.50% |
FAQ
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