Invesco Stoxx Europe 600 Optimised ETF Forecast

Invesco Stoxx Europe 600 Optimised ETF price down 0.224% on Friday
(Updated on Jun 28, 2024)

SC0T.F Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -1.45%. 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". Some positive signals were issued as well, and these may have some influence on the near short-term development. The Invesco Stoxx Europe 600 Optimised ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately 402.87€. On a fall, the ETF will find some support from the long-term average at approximately 399.72€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.

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

Invesco Stoxx Europe 600 Optimised finds support from accumulated volume at 383.90€ 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 2.95€ between high and low, or 0.738%. For the last week the ETF has had daily average volatility of 0.94%.

Our recommended stop-loss: 387.39€ (-3.24%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (SC0T.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco Stoxx Europe 600 Optimised Health Care Ucits Etf to open at 400.83€, and during the day (based on 14 day Average True Range), to move between 397.22€ and 403.48€, which gives a possible trading interval of +/-3.13€ (+/-0.78%) up or down from last closing price. If Invesco Stoxx Europe 600 Optimised Health Care Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 400.85€ (0.12%) than the support at 383.90€ (4.11%), 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 Health Care Ucits Etf ETF A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.335 Buy Candidate Unchanged

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

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