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PBD Stock Tickeron detected bearish ETF Pattern: Three Falling Peaks PBD on November 05, 2024, netting in a 10.14% gain over 2 weeks

A.I.dvisor
at Tickeron.com
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+10.14% Gain from a Successful pattern Three Falling Peaks
PBD - Invesco Global Clean Energy ETF
Tickeron
Ticker: PBD
Company: Invesco Global Clean Energy ETF
Gain from shortening: +10.14%
Confirmed: 11/05/24
Succeeded: 11/20/24
Total length: 16 days
On November 04, 2024, A.I.dvisor detected a Three Falling Peaks Pattern (Bearish) for Invesco Global Clean Energy ETF (PBD, $13.04). 1 day later, on November 05, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On November 20, 2024, the stock hit the target price of $11.63 – resulting in a +1 gain for traders who shorted the stock on the pattern detection date.

PBD sees MACD Histogram just turned negative

PBD saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on November 06, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 41 instances where the indicator turned negative. In of the 41 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on November 06, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on PBD as a result. In of 72 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The 10-day moving average for PBD crossed bearishly below the 50-day moving average on October 21, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where PBD declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for PBD entered a downward trend on November 18, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where PBD's RSI Oscillator exited the oversold zone, of 40 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 9 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PBD advanced for three days, in of 330 cases, the price rose further within the following month. The odds of a continued upward trend are .

PBD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

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PBD
Daily Signalchanged days ago
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General Information

Category WorldStock

Profile
Fundamentals
Details
Category
Global Small/Mid Stock
Address
PowerShares Exchange-Traded Fund Tr II301 West Roosevelt RoadWheaton
Phone
N/A
Web
www.invescopowershares.com