IQI Technical Analysis - INVESCO QUALITY MUNI INC TR

Technical Rating and Analysis

Taking everything into account, IQI scores 7 out of 10 in our technical rating. Although IQI is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

The long and short term trends are both positive. This is looking good!

IQI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so IQI is lagging the market slightly.

IQI is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

When compared to the yearly performance of all other stocks, IQI outperforms 49% of them, which is more or less in line with the market.

In the last month IQI has a been trading in a tight range between 9.77 and 10.00.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

INVESCO QUALITY MUNI INC TR / IQI Weekly stock chart

INVESCO QUALITY MUNI INC TR / IQI Daily stock chart

Setup Rating and Analysis

Although IQI has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

8.96

10.62

We found 4 important support areas.

A support zone ranging from 9.83 to 9.92. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 9.60 to 9.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 9.31 to 9.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 9.05 to 9.13. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

A resistance zone ranging from 10.28 to 10.51. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for IQI is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for IQI is up.
ChartMill Relative Strength	49.06	NEUTRAL	IQI is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of IQI is above a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of IQI is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of IQI is above the rising SMA(200).
Relative Strength Index/RSI (14)	62.44	NEUTRAL	The RSI value for IQI is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests IQI has a negative trend, although the MACD value is rising.
Stochastics (14,3)	83.43	OVERBOUGHT	The high Stochastics value suggests IQI may be overbought.
Average True Range in percent/ATR (20)	0.74	LOW VOLATILITY	The low ATR as a percentage value for IQI suggests low volalility.
Average Directional Index/ADX (14)	29.98	POSITIVE	The high ADX value value for IQI suggests a strong trend.