SPHB Stock Tickeron detected bearish ETF Pattern: Triple Tops on November 06, 2024

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SPHB - Invesco S&P 500® High Beta ETF

Emerged: 11/06/24

Breakout: $87.55

Price: $89.96

Target price: $84.3

SPHB's RSI Oscillator peaks and leaves overbought zone

The 10-day RSI Indicator for SPHB moved out of overbought territory on October 15, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 40 instances where the indicator moved out of the overbought zone. In of the 40 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 62 cases where SPHB's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for SPHB turned negative on November 15, 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 52 similar instances when the indicator turned negative. In of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at .

SPHB moved below its 50-day moving average on November 15, 2024 date and that indicates a change from an upward trend to a downward trend.

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

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 06, 2024. You may want to consider a long position or call options on SPHB as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. 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 SPHB advanced for three days, in of 322 cases, the price rose further within the following month. The odds of a continued upward trend are .

SPHB 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 293 cases where SPHB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .