PowerShares S&P SmallCap Energy ETF Forecast
PowerShares S&P SmallCap Energy ETF downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The PowerShares S&P SmallCap Energy ETF price fell by -0.457% on the last day (Thursday, 18th Apr 2024) from $54.68 to $54.43. It has now fallen 6 days in a row. During the last trading day the ETF fluctuated 1.87% from a day low at $54.43 to a day high of $55.45. The price has fallen in 8 of the last 10 days and is down by -5.14% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 18 thousand shares were bought and sold for approximately $975.33 thousand.
Given the current short-term trend, the ETF is expected to rise 16.62% during the next 3 months and, with a 90% probability hold a price between $63.48 and $69.18 at the end of this 3-month period.
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PSCE Signals & Forecast
There are few to no technical positive signals at the moment. The PowerShares S&P SmallCap Energy ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $55.86 and $54.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -6.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). PowerShares S&P SmallCap Energy gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for PowerShares S&P SmallCap Energy ETF
PowerShares S&P SmallCap Energy finds support from accumulated volume at $51.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $1.02 (1.87%) between high and low. For the last week, the ETF has had daily average volatility of 2.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSCE) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect PowerShares S&P SmallCap Energy Portfolio to open at $54.77, and during the day (based on 14 day Average True Range), to move between $53.38 and $55.48, which gives a possible trading interval of +/-$1.05 (+/-1.93%) up or down from last closing price. If PowerShares S&P SmallCap Energy Portfolio takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.21 (1.43%) than the support at $51.78 (4.87%), 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 PowerShares S&P SmallCap Energy Portfolio ETF A Buy?
The PowerShares S&P SmallCap Energy ETF holds several negative signals and despite the positive trend, we believe PowerShares S&P SmallCap Energy will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. 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 Sell candidate.
Current score: -2.785 Sell Candidate Downgraded
Predicted Opening Price for PowerShares S&P SmallCap Energy Portfolio of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $54.77 ( 0.624%) | $54.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSCE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.79 | 2.49 % | |
| R2 | 55.40 | 1.78 % | ||
| R1 | 55.16 | 1.34 % | ||
| Current price: | 54.43 | |||
| Support | S1 | 54.38 | -0.0911 % | |
| S2 | 54.14 | -0.533 % | ||
| S3 | 53.75 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.13 | 4.96 % | |
| R2 | 55.58 | 2.11 % | ||
| R1 | 55.21 | 1.43 % | ||
| Current price | 54.43 | |||
| Support | S1 | 51.78 | -4.87% | |
| S2 | 51.72 | -4.98% | ||
| S3 | 51.67 | -5.06% |
PSCE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.179 | 0.329% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.316 | 0.599% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Sep 22, 2023 | $0.361 | 0.648% |
| 4 | Sep 08, 2023 | Jun 20, 2023 | Jun 23, 2023 | $0.320 | 0.716% |
| 5 | Jun 19, 2023 | Mar 20, 2023 | Mar 24, 2023 | $0.0680 | 0.156% |
FAQ
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