Invesco Trust for Investment Grade Stock Forecast
Invesco Trust for Investment Grade stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Invesco Trust for Investment Grade stock price gained 0.105% on the last trading day (Friday, 26th Apr 2024), rising from $9.50 to $9.51. During the last trading day the stock fluctuated 0.526% from a day low at $9.51 to a day high of $9.56. The price has risen in 6 of the last 10 days but is still down by -0.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 104 thousand shares were bought and sold for approximately $992.28 thousand.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.46 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.34% during the next 3 months and, with a 90% probability hold a price between $9.14 and $9.51 at the end of this 3-month period.
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VGM Signals & Forecast
There are mixed signals in the stock today. The Invesco Trust for Investment Grade stock 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 $9.52 and $9.72. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.211%. 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 Trust for Investment Grade 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Invesco Trust for Investment Grade stock
Invesco Trust for Investment Grade finds support from accumulated volume at $9.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0500 between high and low, or 0.526%. For the last week the stock has had daily average volatility of 0.494%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VGM) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Invesco Trust for Investment Grade Municipals to open at $9.53, and during the day (based on 14 day Average True Range), to move between $9.44 and $9.58, which gives a possible trading interval of +/-$0.0672 (+/-0.71%) up or down from last closing price. If Invesco Trust for Investment Grade Municipals takes out the full calculated possible swing range there will be an estimated 1.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.50 (0.11%) than the resistance at $9.86 (3.68%), 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 Trust for Investment Grade Municipals stock A Buy?
Invesco Trust for Investment Grade holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.578 Sell Candidate Downgraded
Predicted Opening Price for Invesco Trust for Investment Grade Municipals of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $9.53 ( 0.175%) | $9.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VGM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.58 | 0.701 % | |
| R2 | 9.56 | 0.500 % | ||
| R1 | 9.55 | 0.376 % | ||
| Current price: | 9.51 | |||
| Support | S1 | 9.51 | -0.0256 % | |
| S2 | 9.50 | -0.150 % | ||
| S3 | 9.48 | -0.351 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.90 | 4.10 % | |
| R2 | 9.88 | 3.89 % | ||
| R1 | 9.86 | 3.68 % | ||
| Current price | 9.51 | |||
| Support | S1 | 9.50 | -0.105% | |
| S2 | 9.49 | -0.210% | ||
| S3 | 0 | . |
VGM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0388 | 0.408% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0388 | 0.394% |
| 3 | Jan 29, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0388 | 0.394% |
| 4 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0342 | 0.349% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0 | 0% |
FAQ
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