Is Invesco S&P 500 Equal Weight ETF ($:RSP) Ready For a Pivot? Fibonacci at 105.84

Traders may be using technical analysis to help spot ideal entry and exit points. One idea behind technical analysis is that historical price movement trends have the ability to repeat themselves. Technical analysis involves the use of chart patterns to examine market movements and to help define trends. Trends in the stock market are not always easy to spot. Many chartists will strive to determine whether the trend is up, down, or sideways. After defining a trend, the technical analyst may look to see what type of timeframe the trend encompasses. Some traders will look to identify whether the trend is major or long-term, short-term, or intermediate. Being able to decipher what the data is saying may assist the trader with finding potential entry and exit points on a particular trade. There are many different indicators that can be employed when undertaking technical analysis. Many traders will do numerous chart studies to find out which indicator or indicators tend to project the most relevant trading assistance. Learning how to spot these trends might help the trader develop specific charting skills that will hopefully lead to future market success.

Investors might be looking around every corner when analyzing shares of Invesco S&P 500 Equal Weight ETF (:RSP). Many investors will closely track a stock when it nears a major historical high or low point. Let’s take a quick peek at some major historical highs and lows for the stock:

All time high: 108.8853
All time low: 20.19
52 week high: 108.8853
52 week low: 85.76
6 month high: 108.4862
6 month low: 85.76
3 month high: 108.4862
3 month low: 101.21
One month high: 108.4862
One month low: 102.895

Traders using technical analysis may be employing moving average indicators to assist with gauging a certain market move or to indicate its strength. Many traders will rely on the EMA or Exponential Moving Average to accomplish this. Checking on some recent levels we can see that the 10 day EMA is 105.0645843, the 20 day is 105.4161977, and the 30 day is 105.7187813. Pulling back a bit, we note that the 100 day EMA is 105.2972984, the 50 day is 105.9117895, and the 200 day EMA is 103.871554.

A good way for investors to understand stock price movements is to look at how it has performed at various intervals in the past. Tracking shares of Invesco S&P 500 Equal Weight ETF (:RSP), we see that the most recent close price was 104.73
Year-to-date: 14.56236324
Prior week: -1.2076611
Prior month: -2.03031437
Last 6 months:4.11653575
Last 3 months: 0.85725294

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After a recent check, we see that the Bull Bear Power reading is -0.28193094. Moving to some volatility readings, we see that the current value is 1.05259132. Looking out for the week, volatility is 1.22457858. For the previous month, volatility is at 1.03507833. Investors often track volatility across sectors to compare with the overall volatility in the market.

Traders use pivot point analysis to help determine key levels where a stock price may react. Tracking these turn around levels may help the trader while attempting stock analysis. Looking at some current one month pivots, we note that the Fibonacci pivot is 105.84 while the Fibonacci support 1 pivot is 104.3884, and the Fibonacci support 2 is 103.4916. Checking on the one month Woodie pivot, we note the level at 104.97. The Woodie support 1 pivot is 102.23, and the Woodie resistance 1 pivot is 106.03.

Investors are often dealing with the decision of whether to sell a stock that has been a solid performer or hold on to it for more profit. This can be almost as trying as deciding when to buy a certain stock. Once investors have latched on to a certain stock, they may find it hard to let go. On the flip side, investors may also have to deal with cutting ties with a losing stock. With both scenarios, it may be important for investors to try to keep emotion out of the decision making process. Investors may feel that giving up on a losing stock can be admitting that a mistake was made. No matter what the circumstance, not letting go of a losing stock may lead to poor portfolio performance in the long run. Constantly keeping a close watching on fundamental and technical data can provide important information needed to stay afloat in the equity markets.

Following recent trading activity, we note that Invesco S&P 500 Equal Weight ETF (:RSP) has seen a move of -0.61681533% since the open. The prior close was 104.73 and the one month high price is currently 108.4862.

Shifting the technical focus to Keltner Channels, we see that the 20 day upper envelope is 106.3863479. The 20 day lower envelope is currently 104.4460475. Traders may be watching for a breakthrough of the higher or lower Keltner bands.

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