INVESCO S&P 500 EQUAL WEIGHT (RSP) Stock Technical Analysis
NYSEARCA:RSP - US46137V3574 - ETF
We assign a technical rating of 7 out of 10 to RSP. Although RSP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Besides having an excellent technical rating, RSP also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 188.81. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 187.68, a Stop Loss order could be placed below this zone.
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158.21
5 important support areas can be observed.
- A support zone ranging from 180.94 to 187.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @177.34 from a horizontal line in the daily time frame.
- Support @174.22 from a horizontal line in the daily time frame.
- Support @163.77 from a trend line in the weekly time frame.
- Support @159.81 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 188.81 to 189.50. 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 | 56.77 | 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) | 60.51 | NEUTRAL | The RSI value for RSP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests RSP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 83.32 | OVERBOUGHT | The high Stochastics value suggests RSP may be overbought. |
| Average True Range in percent/ATR (20) | 0.9 | LOW VOLATILITY | The low ATR as a percentage value for RSP suggests low volalility. |
| Average Directional Index/ADX (14) | 25.54 | POSITIVE | The high ADX value value for RSP suggests a strong 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 |
|---|---|---|---|
| 189.51 | 185.36 | 4.15 (2.19%) | 25.00% |
| An entry @189.51. This is a Buy Stop order right above the resistance zone. | An exit @185.36. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.15 points, which is 2.19%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.55%. |
- 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.
188.62
-0.14 (-0.07%)