Invesco S&P 500 High Beta ETF Forecast
Invesco S&P 500 High Beta ETF upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Invesco S&P 500 High Beta ETF price gained 2.12% on the last trading day (Wednesday, 27th Mar 2024), rising from $85.56 to $87.37. During the last trading day the ETF fluctuated 1.72% from a day low at $85.89 to a day high of $87.37. The price has been going up and down for this period, and there has been a 2.15% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 163 thousand more shares were traded than the day before. In total, 385 thousand shares were bought and sold for approximately $33.66 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 7.90% during the next 3 months and, with a 90% probability hold a price between $90.10 and $96.88 at the end of this 3-month period.
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SPHB Signals & Forecast
The Invesco S&P 500 High Beta 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 $85.89 and $84.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 11.70%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Friday, April 14, 2023 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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Friday, April 14, 2023 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 S&P 500 High Beta ETF
Invesco S&P 500 High Beta finds support from accumulated volume at $85.66 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 $1.48 between high and low, or 1.72%. For the last week the ETF has had daily average volatility of 1.08%.
Our recommended stop-loss: $84.00 (-3.86%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (SPHB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Invesco S&P 500 High Beta ETF to open at $86.88, and during the day (based on 14 day Average True Range), to move between $86.17 and $88.57, which gives a possible trading interval of +/-$1.20 (+/-1.37%) up or down from last closing price. If Invesco S&P 500 High Beta ETF takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $85.66, some $1.71 (1.96%) from the current price of $87.37, our system finds the risk reward attractive.
Is Invesco S&P 500 High Beta ETF ETF A Buy?
Invesco S&P 500 High Beta holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.214 Strong Buy Candidate Upgraded
Predicted Opening Price for Invesco S&P 500 High Beta ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$86.88 ( 0.565%) | $87.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPHB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 88.36 | 1.13 % | |
R2 | 87.79 | 0.482 % | ||
R1 | 87.44 | 0.0824 % | ||
Current price: | 87.37 | |||
Support | S1 | 86.31 | -1.21 % | |
S2 | 85.96 | -1.61 % | ||
S3 | 85.40 | -2.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 87.37 | |||
Support | S1 | 85.66 | -1.96% | |
S2 | 81.11 | -7.16% | ||
S3 | 80.61 | -7.74% |
SPHB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.266 | 0.309% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.169 | 0.208% |
3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.175 | 0.251% |
4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.134 | 0.183% |
5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.124 | 0.186% |
FAQ
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