Invesco S&P 500 Quality ETF Forecast
Stronger technical forecast for Invesco S&P 500 Quality ETF price after Friday trading.
(Updated on Apr 26, 2024)
The Invesco S&P 500 Quality ETF price gained 1.42% on the last trading day (Friday, 26th Apr 2024), rising from $58.55 to $59.38. During the last trading day the ETF fluctuated 1.10% from a day low at $58.87 to a day high of $59.52. The price has fallen in 6 of the last 10 days and is down by -0.12% for this period. Volume fell on the last day by -13 thousand shares and in total, 1 million shares were bought and sold for approximately $82.97 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 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 4.76% during the next 3 months and, with a 90% probability hold a price between $60.30 and $64.54 at the end of this 3-month period.
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SPHQ Signals & Forecast
There are mixed signals in the ETF today. The Invesco S&P 500 Quality 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 $59.46. On a fall, the ETF will find some support from the short-term average at $58.34. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.58%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Invesco S&P 500 Quality ETF
Invesco S&P 500 Quality finds support from accumulated volume at $59.16 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 $0.645 between high and low, or 1.10%. For the last week the ETF has had daily average volatility of 1.12%.
Our recommended stop-loss: $56.70 (-4.51%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SPHQ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Invesco S&P 500 Quality ETF to open at $59.26, and during the day (based on 14 day Average True Range), to move between $58.65 and $60.11, which gives a possible trading interval of +/-$0.727 (+/-1.22%) up or down from last closing price. If Invesco S&P 500 Quality ETF takes out the full calculated possible swing range there will be an estimated 2.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.16 (0.37%) than the resistance at $59.65 (0.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Invesco S&P 500 Quality 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 S&P 500 Quality ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.526 Buy Candidate Upgraded
Predicted Opening Price for Invesco S&P 500 Quality ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $59.26 ( 0.211%) | $59.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPHQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.90 | 0.88 % | |
| R2 | 59.65 | 0.461 % | ||
| R1 | 59.50 | 0.204 % | ||
| Current price: | 59.38 | |||
| Support | S1 | 59.01 | -0.625 % | |
| S2 | 58.86 | -0.88 % | ||
| S3 | 58.61 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.02 | 1.08 % | |
| R2 | 59.84 | 0.775 % | ||
| R1 | 59.65 | 0.455 % | ||
| Current price | 59.38 | |||
| Support | S1 | 59.16 | -0.370% | |
| S2 | 56.64 | -4.61% | ||
| S3 | 56.25 | -5.27% |
SPHQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.205 | 0.340% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.197 | 0.365% |
| 3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.183 | 0.365% |
| 4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.191 | 0.388% |
| 5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.200 | 0.437% |
FAQ
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