PDP Invesco Dorsey Wright Momentum ETF Forecast, Technical & Fundamental Analysis
PDP's RSI Indicator is sitting in oversold zone for 1 day
It is expected that a price bounce should occur soon.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 7 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 PDP advanced for three days, in of 346 cases, the price rose further within the following month. The odds of a continued upward trend are .
PDP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 13, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on PDP as a result. In of 82 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 Moving Average Convergence Divergence Histogram (MACD) for PDP turned negative on September 13, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
PDP moved below its 50-day moving average on September 12, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for PDP crossed bearishly below the 50-day moving average on September 18, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 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 PDP 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 PDP entered a downward trend on August 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeGrowth
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| NSNRX | 35.15 | 0.02 | +0.06% |
| Neuberger Berman Small Cap Growth R3 | |||
| FWCBX | 62.24 | -0.10 | -0.16% |
| American Funds Capital Income Bldr 529F3 | |||
| BRGKX | 27.65 | -0.06 | -0.22% |
| iShares Russell 1000 Large-Cap Idx K | |||
| BUFOX | 14.01 | -0.04 | -0.28% |
| Buffalo Early Stage Growth Fd | |||
| SAIFX | 38.00 | -0.15 | -0.39% |
| ClearBridge Large Cap Value I | |||
PDP and
Correlation & Price change
A.I.dvisor indicates that over the last year, PDP has been closely correlated with SPYG. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if PDP jumps, then SPYG could also see price increases.
| Ticker / NAME | Correlation To PDP | 1D Price Change % | ||
|---|---|---|---|---|
| PDP | 100% | +0.20% | ||
| SPYG - PDP | 91% Closely correlated | -0.08% | ||
| IVW - PDP | 89% Closely correlated | -0.07% | ||
| IWF - PDP | 89% Closely correlated | -0.11% | ||
| VUG - PDP | 87% Closely correlated | -0.14% | ||
| SCHG - PDP | 86% Closely correlated | -0.04% | ||
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