PowerShares S&P SmallCap Financials ETF Forecast

PowerShares S&P SmallCap Financials ETF price ended at $45.64 on Friday, after gaining 1.97%.
(Updated on Apr 19, 2024)

PSCF Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.73%. Further rise is indicated until a new top pivot has been found. PowerShares S&P SmallCap Financials 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PowerShares S&P SmallCap Financials 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 $46.63. On a fall, the ETF will find some support from the short-term average at $45.13. 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).

Support, Risk & Stop-loss for PowerShares S&P SmallCap Financials ETF

PowerShares S&P SmallCap Financials finds support from accumulated volume at $45.52 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 $0.97 (2.18%) between high and low. For the last week, the ETF has had daily average volatility of 0.95%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PSCF) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect PowerShares S&P SmallCap Financials Portfolio to open at $45.32, and during the day (based on 14 day Average True Range), to move between $45.05 and $46.24, which gives a possible trading interval of +/-$0.595 (+/-1.30%) up or down from last closing price. If PowerShares S&P SmallCap Financials Portfolio takes out the full calculated possible swing range there will be an estimated 2.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $45.52 (0.27%) than the resistance at $46.63 (2.15%), 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 Financials Portfolio ETF A Buy?

PowerShares S&P SmallCap Financials holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -3.141 Sell Candidate Unchanged

Predicted Opening Price for PowerShares S&P SmallCap Financials Portfolio of Monday, April 22, 2024

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