Invesco Advantage Municipal Income Trust Stock Forecast
Green day on Wednesday for Invesco Advantage Municipal Income Trust
(Updated on May 08, 2024)
The Invesco Advantage Municipal Income Trust stock price gained 0.586% on the last trading day (Wednesday, 8th May 2024), rising from $8.53 to $8.58. It has now gained 9 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.527% from a day low at $8.54 to a day high of $8.58. The price has risen in 9 of the last 10 days and is up by 4.25% over the past 2 weeks. Volume fell on the last day by -388 thousand shares and in total, 80 thousand shares were bought and sold for approximately $685.19 thousand. 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.
Given the current short-term trend, the stock is expected to fall -4.18% during the next 3 months and, with a 90% probability hold a price between $7.77 and $8.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VKI Signals & Forecast
The Invesco Advantage Municipal Income Trust stock 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 $8.42 and $8.34. 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 5.15%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Invesco Advantage Municipal Income Trust stock
Invesco Advantage Municipal Income Trust finds support from accumulated volume at $8.53 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0450 between high and low, or 0.527%. For the last week the stock has had daily average volatility of 0.649%
The Invesco Advantage Municipal Income Trust stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Invesco Advantage Municipal Income Trust has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $8.26 (-3.69%) (This stock has low daily movements and this gives low risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (VKI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Invesco Advantage Municipal Income Trust II to open at $8.57, and during the day (based on 14 day Average True Range), to move between $8.52 and $8.64, which gives a possible trading interval of +/-$0.0617 (+/-0.72%) up or down from last closing price. If Invesco Advantage Municipal Income Trust II takes out the full calculated possible swing range there will be an estimated 1.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.61 (0.35%) than the support at $8.53 (0.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Invesco Advantage Municipal Income Trust II stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.008 Buy Candidate Unchanged
Predicted Opening Price for Invesco Advantage Municipal Income Trust II of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$8.57 ( 0.175%) | $8.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VKI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.61 | 0.350 % | |
R2 | 8.59 | 0.149 % | ||
R1 | 8.58 | 0.0255 % | ||
Current price: | 8.58 | |||
Support | S1 | 8.55 | -0.375 % | |
S2 | 8.54 | -0.499 % | ||
S3 | 8.52 | -0.699 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.65 | 0.82 % | |
R2 | 8.62 | 0.466 % | ||
R1 | 8.61 | 0.350 % | ||
Current price | 8.58 | |||
Support | S1 | 8.53 | -0.583% | |
S2 | 8.52 | -0.699% | ||
S3 | 8.23 | -4.08% |
VKI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.0349 | 0.407% |
2 | Apr 01, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0349 | 0.422% |
3 | Mar 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0349 | 0.411% |
4 | Jan 29, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0349 | 0.409% |
5 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0309 | 0.364% |
FAQ
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