Invesco Materials S&p Us Select Sector ETF Forecast

Stronger technical forecast for Invesco Materials S&p Us Select Sector ETF price after Friday trading.
(Updated on Jun 28, 2024)

XLBS.L Signals & Forecast

There are mixed signals in the ETF today. The Invesco Materials S&p Us Select Sector 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 $529.53 and $536.86. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.420%. 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 Materials S&p Us Select Sector 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.

Support, Risk & Stop-loss for Invesco Materials S&p Us Select Sector ETF

Invesco Materials S&p Us Select Sector finds support from accumulated volume at $525.20 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0867%.

Our recommended stop-loss: $496.23 (-6.02%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (XLBS.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Invesco Materials S&p Us Select Sector Ucits Etf to open at $528.02, and during the day (based on 14 day Average True Range), to move between $524.10 and $531.94, which gives a possible trading interval of +/-$3.92 (+/-0.74%) up or down from last closing price. If Invesco Materials S&p Us Select Sector Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.49% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $525.20 (0.53%) than the resistance at $535.29 (1.38%), 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 Materials S&p Us Select Sector Ucits Etf ETF A Buy?

Invesco Materials S&p Us Select Sector 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Materials S&p Us Select Sector Ucits Etf of Monday, July 1, 2024

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