Invesco Municipal Income Opportunities Stock Forecast
Invesco Municipal Income Opportunities stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Invesco Municipal Income Opportunities stock price gained 0.799% on the last trading day (Wednesday, 8th May 2024), rising from $6.26 to $6.31. During the last trading day the stock fluctuated 1.61% from a day low at $6.22 to a day high of $6.32. The price has risen in 5 of the last 10 days and is up by 3.1% 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, 13 thousand more shares were traded than the day before. In total, 89 thousand shares were bought and sold for approximately $562.13 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.49% during the next 3 months and, with a 90% probability hold a price between $5.89 and $6.45 at the end of this 3-month period.
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OIA Signals & Forecast
Mostly positive signals in the chart today. The Invesco Municipal Income Opportunities stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.18 and $6.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 4.13%. 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). Invesco Municipal Income Opportunities has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Invesco Municipal Income Opportunities stock
Invesco Municipal Income Opportunities finds support from accumulated volume at $6.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.100 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: $6.00 (-4.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (OIA) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Invesco Municipal Income Opportunities Trust to open at $6.28, and during the day (based on 14 day Average True Range), to move between $6.23 and $6.39, which gives a possible trading interval of +/-$0.0784 (+/-1.24%) up or down from last closing price. If Invesco Municipal Income Opportunities Trust takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.26 (0.79%) than the resistance at $6.47 (2.54%), 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 Municipal Income Opportunities Trust stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.174 Buy Candidate Upgraded
Predicted Opening Price for Invesco Municipal Income Opportunities Trust of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $6.28 ( 0.423%) | $6.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OIA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.38 | 1.16 % | |
| R2 | 6.35 | 0.557 % | ||
| R1 | 6.32 | 0.183 % | ||
| Current price: | 6.31 | |||
| Support | S1 | 6.25 | -1.03 % | |
| S2 | 6.22 | -1.40 % | ||
| S3 | 6.18 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.63 | 5.07 % | |
| R2 | 6.53 | 3.49 % | ||
| R1 | 6.47 | 2.54 % | ||
| Current price | 6.31 | |||
| Support | S1 | 6.26 | -0.792% | |
| S2 | 6.24 | -1.11% | ||
| S3 | 6.19 | -1.90% |
OIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.0291 | 0.462% |
| 2 | Apr 01, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0291 | 0.478% |
| 3 | Mar 14, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0291 | 0.446% |
| 4 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0291 | 0.465% |
| 5 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0265 | 0.417% |
FAQ
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