PJP Stock Tickeron detected bearish ETF Pattern: Head-and-Shoulders Top PJP on October 30, 2024, netting in a 3.11% gain over 1 month

GET DAILY SIGNALS

Get AI intraday signals

PJP - Invesco Pharmaceuticals ETF

Ticker: PJP

Company: Invesco Pharmaceuticals ETF

Gain from shortening: +3.11%

Confirmed: 10/30/24

Succeeded: 12/17/24

Total length: 50 days

PJP's Stochastic Oscillator sits in oversold zone for 8 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 uptrend is expected.

Technical Analysis (Indicators)

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where PJP's RSI Indicator exited the oversold zone, of 22 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PJP advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .

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

The Aroon Indicator entered an Uptrend today. In of 260 cases where PJP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on December 09, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on PJP as a result. In of 85 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 PJP turned negative on December 10, 2024. 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 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .

PJP moved below its 50-day moving average on December 05, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for PJP crossed bearishly below the 50-day moving average on December 10, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 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 PJP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .