Invesco S&P MidCap Low Volatility ETF Forecast

Invesco S&P MidCap Low Volatility ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 19, 2024)

XMLV Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco S&P MidCap Low Volatility ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $55.07. On a fall, the ETF will find some support from the short-term average at $53.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Friday, January 26, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Invesco S&P MidCap Low Volatility ETF

Invesco S&P MidCap Low Volatility finds support from accumulated volume at $53.95 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 $0.650 between high and low, or 1.21%. For the last week the ETF has had daily average volatility of 1.06%.

Our recommended stop-loss: $50.97 (-5.89%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (XMLV) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Invesco S&P MidCap Low Volatility ETF to open at $53.98, and during the day (based on 14 day Average True Range), to move between $53.60 and $54.72, which gives a possible trading interval of +/-$0.558 (+/-1.03%) up or down from last closing price. If Invesco S&P MidCap Low Volatility ETF takes out the full calculated possible swing range there will be an estimated 2.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $54.17 (0.02%) than the support at $53.95 (0.39%), 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 S&P MidCap Low Volatility 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 S&P MidCap Low Volatility 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: 2.609 Buy Candidate Upgraded

Predicted Opening Price for Invesco S&P MidCap Low Volatility ETF of Monday, April 22, 2024

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