PowerShares S&P SmallCap Health Care ETF Forecast
PowerShares S&P SmallCap Health Care ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The PowerShares S&P SmallCap Health Care ETF price fell by -1.87% on the last day (Thursday, 25th Apr 2024) from $41.08 to $40.31. During the last trading day the ETF fluctuated 0.96% from a day low at $40.21 to a day high of $40.59. The price has fallen in 7 of the last 10 days and is down by -4.37% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -279 shares and in total, 9 thousand shares were bought and sold for approximately $377.14 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $39.99 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PowerShares S&P SmallCap Health Care ETF with a 90% probability to be traded between $39.36 and $42.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PSCH Signals & Forecast
There are few to no technical positive signals at the moment. The PowerShares S&P SmallCap Health Care ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $40.55 and $42.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.21%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Thursday, March 28, 2024 with a target of $40.98. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for PowerShares S&P SmallCap Health Care ETF
PowerShares S&P SmallCap Health Care finds support from accumulated volume at $40.05 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 $0.385 between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 1.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSCH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PowerShares S&P SmallCap Health Care Portfolio to open at $40.37, and during the day (based on 14 day Average True Range), to move between $39.69 and $40.93, which gives a possible trading interval of +/-$0.619 (+/-1.54%) up or down from last closing price. If PowerShares S&P SmallCap Health Care Portfolio takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.05 (0.65%) than the resistance at $42.88 (6.38%), 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 Health Care Portfolio ETF A Buy?
PowerShares S&P SmallCap Health Care holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -2.958 Sell Candidate Downgraded
Predicted Opening Price for PowerShares S&P SmallCap Health Care Portfolio of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $40.37 ( 0.145%) | $40.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSCH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.75 | 1.10 % | |
| R2 | 40.61 | 0.735 % | ||
| R1 | 40.52 | 0.510 % | ||
| Current price: | 40.31 | |||
| Support | S1 | 40.22 | -0.220 % | |
| S2 | 40.13 | -0.446 % | ||
| S3 | 39.98 | -0.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.15 | 7.05 % | |
| R2 | 42.94 | 6.52 % | ||
| R1 | 42.88 | 6.38 % | ||
| Current price | 40.31 | |||
| Support | S1 | 40.05 | -0.645% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PSCH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0361 | 0.0847% |
| 2 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.0045 | 0.0107% |
| 3 | Sep 24, 2018 | Sep 24, 2018 | Sep 28, 2018 | $0.0050 | 0.0107% |
| 4 | Dec 16, 2016 | Dec 16, 2016 | Dec 30, 2016 | $0.0190 | 0.0780% |
| 5 | Dec 24, 2014 | Dec 24, 2014 | Dec 24, 2014 | $0.557 | 2.80% |
FAQ
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