Invesco Stoxx Europe 600 Optimised ETF Forecast

Invesco Stoxx Europe 600 Optimised ETF upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)

SC04.F Signals & Forecast

There are mixed signals in the ETF today. The Invesco Stoxx Europe 600 Optimised ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at 707.90€. On a fall, the ETF will find some support from the short-term average at 703.11€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.89%. 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. The ETF had a Golden Star Signal on Wednesday, July 19, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Invesco Stoxx Europe 600 Optimised ETF

Invesco Stoxx Europe 600 Optimised finds support from accumulated volume at 702.80€ 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 4.50€ between high and low, or 0.638%. For the last week the ETF has had daily average volatility of 0.733%

Our recommended stop-loss: 668.01€ (-5.39%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (SC04.F) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Invesco Stoxx Europe 600 Optimised Personal & Household Goods Ucits Etf to open at 707.27€, and during the day (based on 14 day Average True Range), to move between 700.48€ and 711.72€, which gives a possible trading interval of +/-5.62€ (+/-0.80%) up or down from last closing price. If Invesco Stoxx Europe 600 Optimised Personal & Household Goods Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 702.80€ (0.47%) than the resistance at 710.50€ (0.62%), 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 Personal & Household Goods Ucits Etf ETF A Buy?

Invesco Stoxx Europe 600 Optimised holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.447 Hold/Accumulate Upgraded

Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Personal & Household Goods Ucits Etf of Thursday, June 27, 2024

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