Invesco Solar ETF Forecast
Red day on Tuesday for Invesco Solar
(Updated on Jul 02, 2024)
The Invesco Solar ETF price fell by -0.663% on the last day (Tuesday, 2nd Jul 2024) from $39.24 to $38.98. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 2.97% from a day low at $38.68 to a day high of $39.83. The price has fallen in 8 of the last 10 days and is down by -13.24% for this period. Volume has increased on the last day by 210 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $48.35 million.
The ETF has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $42.12. A reaction back to this level may hold a second chance to get out before further falls.
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TAN Signals & Forecast
There are few to no technical positive signals at the moment. The Invesco Solar ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $40.91 and $44.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -20.45%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Invesco Solar ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $1.15 between high and low, or 2.97%. For the last week, the ETF has had daily average volatility of 3.11%.
Invesco Solar is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Invesco Solar ETF to open at $39.16, and during the day (based on 14 day Average True Range), to move between $37.53 and $40.43, which gives a possible trading interval of +/-$1.45 (+/-3.73%) up or down from last closing price. If Invesco Solar ETF takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $43.77, some $4.79 (12.29%) from the current price of $38.98, our system finds the risk reward not very attractive.
Is Invesco Solar ETF ETF A Buy?
The Invesco Solar ETF holds several negative signals and despite the positive trend, we believe Invesco Solar will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.193 Sell Candidate Unchanged
Predicted Opening Price for Invesco Solar ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $39.16 ( 0.470%) | $38.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.31 | 3.42% |
| R2 | 39.87 | 2.29% |
| R1 | 39.60 | 1.60% |
| Price | 38.98 | |
| S1 | 38.72 | -0.657% |
| S2 | 38.45 | -1.35% |
| S3 | 38.01 | -2.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.62 | 22.17% |
| R2 | 46.76 | 19.96% |
| R1 | 43.77 | 12.29% |
| Price | 38.98 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
TAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0480 | 0.0949% |
| 2 | Jan 24, 2020 | Dec 21, 2020 | Dec 31, 2020 | $0.0920 | 0.0895% |
| 3 | Jan 18, 2019 | Dec 23, 2019 | Dec 31, 2019 | $0.0910 | 0.295% |
| 4 | Dec 21, 2018 | Dec 24, 2018 | Dec 31, 2018 | $0.129 | 0.695% |
| 5 | Dec 22, 2017 | Dec 26, 2017 | Dec 29, 2017 | $0.445 | 1.77% |
FAQ
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