Invesco S&P SmallCap Quality ETF Forecast

Evaluation of Invesco S&P SmallCap Quality ETF downgraded after the last trading session.
(Updated on May 17, 2024)

XSHQ Signals & Forecast

The Invesco S&P SmallCap Quality 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 $40.42 and $39.89. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.599%. Further fall is indicated until a new bottom pivot has been found. 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 Friday, May 03, 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 SmallCap Quality ETF

Invesco S&P SmallCap Quality finds support from accumulated volume at $40.45 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 $0.170 between high and low, or 0.421%. For the last week the ETF has had daily average volatility of 0.639%

Our recommended stop-loss: $39.09 (-3.44%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (XSHQ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Invesco S&P SmallCap Quality ETF to open at $40.49, and during the day (based on 14 day Average True Range), to move between $40.01 and $40.96, which gives a possible trading interval of +/-$0.478 (+/-1.18%) up or down from last closing price. If Invesco S&P SmallCap Quality ETF takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $40.49 (0.01%) than the support at $40.45 (0.09%), 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 SmallCap Quality ETF ETF A Buy?

Invesco S&P SmallCap Quality 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.266 Hold/Accumulate Downgraded

Predicted Opening Price for Invesco S&P SmallCap Quality ETF of Monday, May 20, 2024

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