Invesco California Value Municipal Stock Forecast

Invesco California Value Municipal stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

VCV Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.162%. Further rise is indicated until a new top pivot has been found. Invesco California Value Municipal 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Invesco California Value Municipal stock 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 $9.59 and $9.75. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Invesco California Value Municipal stock

Invesco California Value Municipal finds support from accumulated volume at $9.56 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 $0.0400 between high and low, or 0.418%. For the last week the stock has had daily average volatility of 0.795%.

Our recommended stop-loss: $8.96 (-6.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (VCV) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Invesco California Value Municipal Income Trust to open at $9.58, and during the day (based on 14 day Average True Range), to move between $9.50 and $9.65, which gives a possible trading interval of +/-$0.0756 (+/-0.79%) up or down from last closing price. If Invesco California Value Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.56 (0.16%) than the resistance at $9.73 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Invesco California Value Municipal Income Trust stock A Buy?

Invesco California Value Municipal holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.171 Hold/Accumulate Upgraded

Predicted Opening Price for Invesco California Value Municipal Income Trust of Monday, April 29, 2024

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