Invesco S&P MidCap Low Volatility ETF Forecast
Invesco S&P MidCap Low Volatility ETF upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The Invesco S&P MidCap Low Volatility ETF price gained 0.478% on the last trading day (Wednesday, 1st May 2024), rising from $54.44 to $54.70. During the last trading day the ETF fluctuated 1.47% from a day low at $54.42 to a day high of $55.22. The price has risen in 7 of the last 10 days and is up by 2.49% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 25 thousand shares were bought and sold for approximately $1.39 million. 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.
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 2.76% during the next 3 months and, with a 90% probability hold a price between $55.10 and $58.55 at the end of this 3-month period.
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XMLV Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.49%. 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. The Invesco S&P MidCap Low Volatility 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 $54.78 and $54.99. A break-up above any of these levels will issue buy signals. 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 S&P MidCap Low Volatility ETF
Invesco S&P MidCap Low Volatility finds support from accumulated volume at $54.45 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 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 ETF During the last day, the ETF moved $0.80 between high and low, or 1.47%. For the last week the ETF has had daily average volatility of 0.83%
Our recommended stop-loss: $51.95 (-5.02%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (XMLV) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Invesco S&P MidCap Low Volatility ETF to open at $54.78, and during the day (based on 14 day Average True Range), to move between $54.16 and $55.24, which gives a possible trading interval of +/-$0.544 (+/-0.99%) 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 1.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $54.45 (0.46%) than the resistance at $55.26 (1.02%), 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 S&P MidCap Low Volatility ETF ETF A Buy?
Invesco S&P MidCap Low Volatility holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.088 Hold/Accumulate Upgraded
Predicted Opening Price for Invesco S&P MidCap Low Volatility ETF of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$54.78 ( 0.146%) | $54.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XMLV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.58 | 1.61 % | |
R2 | 55.27 | 1.05 % | ||
R1 | 55.09 | 0.705 % | ||
Current price: | 54.70 | |||
Support | S1 | 54.47 | -0.412 % | |
S2 | 54.29 | -0.758 % | ||
S3 | 53.98 | -1.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 55.87 | 2.14 % | |
R2 | 55.38 | 1.24 % | ||
R1 | 55.26 | 1.02 % | ||
Current price | 54.70 | |||
Support | S1 | 54.45 | -0.457% | |
S2 | 54.17 | -0.97% | ||
S3 | 53.34 | -2.49% |
XMLV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.329 | 0.596% |
2 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.245 | 0.465% |
3 | Jan 02, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.319 | 0.640% |
4 | Jan 02, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.340 | 0.677% |
5 | Jan 02, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.340 | 0.669% |
FAQ
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