Invesco Stoxx Europe 600 Optimised ETF Forecast

Weaker technical forecast for Invesco Stoxx Europe 600 Optimised as ETF downgraded to Sell Candidate.
(Updated on Jun 28, 2024)

SC04.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. 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 702.17€ and 707.23€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -3.85%. 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). 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". 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 690.50€ 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 1.14%. For the last week the ETF has had daily average volatility of 1.07%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SC04.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco Stoxx Europe 600 Optimised Personal & Household Goods Ucits Etf to open at 694.43€, and during the day (based on 14 day Average True Range), to move between 685.82€ and 698.18€, which gives a possible trading interval of +/-6.18€ (+/-0.89%) 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 1.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 690.50€ (0.22%) than the resistance at 695.90€ (0.56%), 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?

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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.130 Sell Candidate Downgraded

Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Personal & Household Goods Ucits Etf of Monday, July 1, 2024

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