Invesco Stoxx Europe 600 Optimised ETF Forecast

Invesco Stoxx Europe 600 Optimised ETF price ended at 93.34€ on Tuesday, after losing 0.734%.
(Updated on Jun 25, 2024)

SC0Q.F Signals & Forecast

The Invesco Stoxx Europe 600 Optimised ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 92.86€ and 92.37€. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 06, 2024, and so far it has fallen -1.80%. 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 Friday, April 19, 2024 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 92.61€ 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 0.96€ between high and low, or 1.03%. For the last week the ETF has had daily average volatility of 0.563%

Our recommended stop-loss: 88.43€ (-5.26%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 49 days ago.)

Trading Expectations (SC0Q.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Invesco Stoxx Europe 600 Optimised Telecommunications Ucits Etf to open at 93.66€, and during the day (based on 14 day Average True Range), to move between 92.63€ and 94.05€, which gives a possible trading interval of +/-0.706€ (+/-0.76%) up or down from last closing price. If Invesco Stoxx Europe 600 Optimised Telecommunications Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 93.91€ (0.61%) than the support at 92.61€ (0.78%), 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 Telecommunications 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: 2.678 Buy Candidate Unchanged

Predicted Opening Price for Invesco Stoxx Europe 600 Optimised Telecommunications Ucits Etf of Wednesday, June 26, 2024

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