PowerShares S&P SmallCap Consumer ETF Forecast

Green day on Monday for PowerShares S&P SmallCap Consumer
(Updated on Apr 22, 2024)

PSCD Signals & Forecast

There are mixed signals in the ETF today. The PowerShares S&P SmallCap Consumer 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 $103.46. On a fall, the ETF will find some support from the short-term average at $97.78. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.02%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Friday, May 05, 2023 in the long-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 PowerShares S&P SmallCap Consumer ETF

PowerShares S&P SmallCap Consumer finds support from accumulated volume at $97.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.261 between high and low, or 0.265%. For the last week the ETF has had daily average volatility of 0.427%.

PowerShares S&P SmallCap Consumer is oversold on RSI14 (21). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $93.46 (-5.35%) (This ETF has medium daily movements and this gives medium risk. Low RSI14 is 21 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (PSCD) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect PowerShares S&P SmallCap Consumer Discretionary Portfolio to open at $98.65, and during the day (based on 14 day Average True Range), to move between $97.56 and $99.92, which gives a possible trading interval of +/-$1.18 (+/-1.19%) up or down from last closing price. If PowerShares S&P SmallCap Consumer Discretionary Portfolio takes out the full calculated possible swing range there will be an estimated 2.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $97.70 (1.05%) than the resistance at $104.29 (5.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PowerShares S&P SmallCap Consumer Discretionary Portfolio ETF A Buy?

PowerShares S&P SmallCap Consumer 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: 0.324 Hold/Accumulate Unchanged

Predicted Opening Price for PowerShares S&P SmallCap Consumer Discretionary Portfolio of Tuesday, April 23, 2024

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