Invesco S&P 500 GARP ETF Forecast
Invesco S&P 500 GARP ETF price ended at $104.58 on Friday, after gaining 0.413%.
(Updated on May 17, 2024)
The Invesco S&P 500 GARP ETF price gained 0.413% on the last trading day (Friday, 17th May 2024), rising from $104.15 to $104.58. During the last trading day the ETF fluctuated 0.394% from a day low at $104.17 to a day high of $104.58. The price has risen in 7 of the last 10 days and is up by 3.02% over the past 2 weeks. Volume fell on the last day by -696 shares and in total, 191 thousand shares were bought and sold for approximately $19.95 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Invesco S&P 500 GARP ETF with a 90% probability to be traded between $100.47 and $108.31 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SPGP Signals & Forecast
The Invesco S&P 500 GARP 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 $103.74 and $103.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Wednesday, May 15, 2024, and so far it has fallen -0.143%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Invesco S&P 500 GARP ETF
Invesco S&P 500 GARP finds support from accumulated volume at $103.10 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 $0.410 between high and low, or 0.394%. For the last week the ETF has had daily average volatility of 0.688%.
Our recommended stop-loss: $101.03 (-3.39%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SPGP) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Invesco S&P 500 GARP ETF to open at $104.44, and during the day (based on 14 day Average True Range), to move between $103.52 and $105.64, which gives a possible trading interval of +/-$1.06 (+/-1.01%) up or down from last closing price. If Invesco S&P 500 GARP ETF takes out the full calculated possible swing range there will be an estimated 2.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $104.73 (0.14%) than the support at $103.10 (1.42%), 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 S&P 500 GARP 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 S&P 500 GARP ETF to perform well in the short-term period.
Current score: 4.203 Buy Candidate Unchanged
Predicted Opening Price for Invesco S&P 500 GARP ETF of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$104.44 ( 0.131%) | $104.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPGP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 104.85 | 0.261 % | |
R2 | 104.70 | 0.112 % | ||
R1 | 104.60 | 0.0191 % | ||
Current price: | 104.58 | |||
Support | S1 | 104.29 | -0.280 % | |
S2 | 104.19 | -0.373 % | ||
S3 | 104.03 | -0.523 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 105.64 | 1.01 % | |
R2 | 105.23 | 0.622 % | ||
R1 | 104.73 | 0.143 % | ||
Current price | 104.58 | |||
Support | S1 | 103.10 | -1.42% | |
S2 | 100.41 | -3.99% | ||
S3 | 98.32 | -5.99% |
SPGP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.382 | 0.363% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.403 | 0.414% |
3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.340 | 0.376% |
4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.216 | 0.247% |
5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.256 | 0.309% |
FAQ
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