Invesco S&P 500 Quality ETF Forecast
Green day on Wednesday for Invesco S&P 500 Quality
(Updated on Jul 03, 2024)
The Invesco S&P 500 Quality ETF price gained 0.375% on the last trading day (Wednesday, 3rd Jul 2024), rising from $63.96 to $64.20. During the last trading day the ETF fluctuated 0.501% from a day low at $63.99 to a day high of $64.32. The price has fallen in 7 of the last 10 days and is down by -1.74% for this period. Volume fell on the last day by -544 thousand shares and in total, 406 thousand shares were bought and sold for approximately $26.09 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 strong 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 11.11% during the next 3 months and, with a 90% probability hold a price between $69.33 and $73.79 at the end of this 3-month period.
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SPHQ Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.74%. 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). The Invesco S&P 500 Quality 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 $63.82 and $62.78. A breakdown below any of these levels will issue sell signals. 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 $64.06 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 $0.321 between high and low, or 0.501%. For the last week the ETF has had daily average volatility of 0.84%.
Our recommended stop-loss: $61.37 (-4.40%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 51 days ago.)
Trading Expectations (SPHQ) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Invesco S&P 500 Quality ETF to open at $64.17, and during the day (based on 14 day Average True Range), to move between $63.65 and $64.75, which gives a possible trading interval of +/-$0.553 (+/-0.86%) 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 1.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $64.06 (0.22%) than the resistance at $64.43 (0.36%), 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.
Current score: 2.113 Buy Candidate Unchanged
Predicted Opening Price for Invesco S&P 500 Quality ETF of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $64.17 ( 0.0471%) | $64.20 |
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 | |
|---|---|---|
| R3 | 64.49 | 0.452% |
| R2 | 64.37 | 0.262% |
| R1 | 64.29 | 0.144% |
| Price | 64.20 | |
| S1 | 64.05 | -0.238% |
| S2 | 63.97 | -0.356% |
| S3 | 63.85 | -0.547% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.05 | 1.32% |
| R2 | 64.92 | 1.12% |
| R1 | 64.43 | 0.358% |
| Price | 64.20 | |
| S1 | 64.06 | -0.218% |
| S2 | 58.75 | -8.49% |
| S3 | 57.79 | -9.98% |
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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