Invesco Morningstar Us Energy ETF Forecast

Invesco Morningstar Us Energy ETF upgraded to Buy Candidate.
(Updated on Jun 21, 2024)

SMLD.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco Morningstar Us Energy 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 46.52€. On a fall, the ETF will find some support from the short-term average at 45.82€. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Invesco Morningstar Us Energy ETF

Invesco Morningstar Us Energy finds support from accumulated volume at 45.67€ 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 0.320€ between high and low, or 0.696%. For the last week the ETF has had daily average volatility of 0.626%

Our recommended stop-loss: 43.84€ (-5.10%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (SMLD.F) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Invesco Morningstar Us Energy Infrastructure Mlp Ucits Etf to open at 46.16€, and during the day (based on 14 day Average True Range), to move between 45.64€ and 46.75€, which gives a possible trading interval of +/-0.553€ (+/-1.20%) up or down from last closing price. If Invesco Morningstar Us Energy Infrastructure Mlp Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 46.23€ (0.06%) than the support at 45.67€ (1.14%), 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 Morningstar Us Energy Infrastructure Mlp Ucits Etf ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Invesco Morningstar Us Energy ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.180 Buy Candidate Upgraded

Predicted Opening Price for Invesco Morningstar Us Energy Infrastructure Mlp Ucits Etf of Monday, June 24, 2024

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