Invesco Health Care S&p Us Select Sector ETF Forecast
Stronger technical forecast for Invesco Health Care S&p Us Select Sector ETF price after Tuesday trading.
(Updated on Jun 25, 2024)
The Invesco Health Care S&p Us Select Sector ETF price gained 0.798% on the last trading day (Tuesday, 25th Jun 2024), rising from $703.63 to $709.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.571% from a day low at $709.24 to a day high of $713.29. The price has risen in 7 of the last 10 days and is up by 1.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $1.78 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.87% during the next 3 months and, with a 90% probability hold a price between $701.52 and $753.51 at the end of this 3-month period.
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XLVS.L Signals & Forecast
Mostly positive signals in the chart today. The Invesco Health Care S&p Us Select Sector 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 $702.66 and $695.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.44%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Invesco Health Care S&p Us Select Sector ETF
Invesco Health Care S&p Us Select Sector finds support from accumulated volume at $696.36 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 $4.05 between high and low, or 0.571%. For the last week the ETF has had daily average volatility of 0.678%.
Our recommended stop-loss: $683.42 (-3.64%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (XLVS.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Invesco Health Care S&p Us Select Sector Ucits Etf to open at $710.59, and during the day (based on 14 day Average True Range), to move between $701.30 and $717.18, which gives a possible trading interval of +/-$7.94 (+/-1.12%) up or down from last closing price. If Invesco Health Care S&p Us Select Sector Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $712.69 (0.49%) than the support at $696.36 (1.82%), 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 Health Care S&p Us Select Sector Ucits Etf ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Invesco Health Care S&p Us Select Sector ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.655 Buy Candidate Upgraded
Predicted Opening Price for Invesco Health Care S&p Us Select Sector Ucits Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $710.59 ( 0.190%) | $709.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XLVS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 714.64 | 0.761% |
| R2 | 713.09 | 0.543% |
| R1 | 712.14 | 0.408% |
| Price | 709.24 | |
| S1 | 709.04 | -0.0278% |
| S2 | 708.09 | -0.163% |
| S3 | 706.54 | -0.381% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 712.69 | 0.486% |
| Price | 709.24 | |
| S1 | 696.36 | -1.82% |
| S2 | 695.69 | -1.91% |
| S3 | 675.92 | -4.70% |
FAQ
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