Invesco Stoxx Europe 600 Ucits Etf ETF Forecast

Evaluation of Invesco Stoxx Europe 600 Ucits Etf ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)

SC0C.F Signals & Forecast

There are few to no technical positive signals at the moment. The Invesco Stoxx Europe 600 Ucits Etf 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 124.87€ and 125.49€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.52%. 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 ETF had a Golden Star Signal on Monday, April 22, 2024 in the short-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 Ucits Etf ETF

Invesco Stoxx Europe 600 Ucits Etf finds support from accumulated volume at 121.78€ 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 0.760€ between high and low, or 0.614%. For the last week the ETF has had daily average volatility of 0.85%

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

Trading Expectations (SC0C.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco Stoxx Europe 600 Ucits Etf to open at 124.13€, and during the day (based on 14 day Average True Range), to move between 122.85€ and 124.99€, which gives a possible trading interval of +/-1.07€ (+/-0.87%) up or down from last closing price. If Invesco Stoxx Europe 600 Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 125.42€ (1.21%) than the support at 121.78€ (1.73%), 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 Ucits Etf ETF A Buy?

The Invesco Stoxx Europe 600 Ucits Etf ETF holds several negative signals and despite the positive trend, we believe Invesco Stoxx Europe 600 Ucits Etf 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: -2.066 Sell Candidate Downgraded

Predicted Opening Price for Invesco Stoxx Europe 600 Ucits Etf of Monday, July 1, 2024

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