Invesco S&P MidCap Value with Momentum ETF Forecast

Green day on Friday for Invesco S&P MidCap Value with Momentum ETF after gaining 0.588%
(Updated on May 03, 2024)

XMVM Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.60%. 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 Value with Momentum 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 $52.22. On a fall, the ETF will find some support from the short-term average at $51.43. 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. 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. The ETF had a Golden Star Signal on Thursday, February 08, 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 Value with Momentum ETF

Invesco S&P MidCap Value with Momentum finds support from accumulated volume at $51.37 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 $0.490 between high and low, or 0.95%. For the last week the ETF has had daily average volatility of 1.22%

Our recommended stop-loss: $49.12 (-4.93%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (XMVM) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Invesco S&P MidCap Value with Momentum ETF to open at $51.77, and during the day (based on 14 day Average True Range), to move between $50.94 and $52.40, which gives a possible trading interval of +/-$0.731 (+/-1.41%) up or down from last closing price. If Invesco S&P MidCap Value with Momentum ETF takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $51.71 (0.08%) than the support at $51.37 (0.59%), 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 Value with Momentum ETF ETF A Buy?

Invesco S&P MidCap Value with Momentum 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.

Current score: -0.881 Hold/Accumulate Unchanged

Predicted Opening Price for Invesco S&P MidCap Value with Momentum ETF of Monday, May 6, 2024

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