Invesco S&P 500 Minimum Variance ETF Forecast

Green day on Friday for Invesco S&P 500 Minimum Variance
(Updated on May 17, 2024)

SPMV Signals & Forecast

The Invesco S&P 500 Minimum Variance 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 $42.93 and $41.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.50%. 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). Invesco S&P 500 Minimum Variance has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Monday, September 11, 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 Minimum Variance ETF

Invesco S&P 500 Minimum Variance finds support from accumulated volume at $42.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.0900 (0.207%) between high and low. For the last week, the ETF has had daily average volatility of 0.258%.

The Invesco S&P 500 Minimum Variance ETF is extremely overbought on RSI14 (96). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $42.11 (-3.26%) (This ETF has low daily movements and this gives low risk. The RSI14 is 96 and this increases the risk substantially. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (SPMV) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Invesco S&P 500 Minimum Variance ETF to open at $43.50, and during the day (based on 14 day Average True Range), to move between $43.32 and $43.73, which gives a possible trading interval of +/-$0.205 (+/-0.47%) up or down from last closing price. If Invesco S&P 500 Minimum Variance ETF takes out the full calculated possible swing range there will be an estimated 0.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $42.27, some $1.26 (2.89%) from the current price of $43.53, our system finds the risk reward attractive.

Is Invesco S&P 500 Minimum Variance ETF ETF A Buy?

Invesco S&P 500 Minimum Variance holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Invesco S&P 500 Minimum Variance ETF of Monday, May 20, 2024

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