INVESCO S&P 500 EQUAL WEIGHT (RSP) Stock Technical Analysis
NYSEARCA:RSP - NYSE Arca - US46137V3574 - ETF - Currency: USD
Taking everything into account, RSP scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, RSP is only an average performer.
RSP has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 180.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 177.08, a Stop Loss order could be placed below this zone.
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155.60
When analyzing the support we can see 3 important areas.
- A support zone ranging from 173.90 to 177.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 159.81 to 160.00. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @157.17 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 180.18 to 181.87. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 185.02 to 187.63. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 RSP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RSP is up. |
| ChartMill Relative Strength | 59.76 | NEUTRAL | RSP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RSP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RSP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RSP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.52 | NEUTRAL | The RSI value for RSP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests RSP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 67.27 | NEUTRAL | The Stochastics value for RSP is a neutral value. |
| Average True Range in percent/ATR (20) | 1.19 | LOW VOLATILITY | The low ATR as a percentage value for RSP suggests low volalility. |
| Average Directional Index/ADX (14) | 14.03 | NEGATIVE | The low ADX value for RSP suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 181.88 | 172.99 | 8.89 (4.89%) | 20.46% |
| An entry @181.88. This is a Buy Stop order right above the resistance zone. | An exit @172.99. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 8.89 points, which is 4.89%. | For a 1.00% total portfolio risk, you can invest 20.46% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
178.69
+1.53 (+0.86%)