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- 4/19/2024 -
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Invesco Senior Loan ETF (BKLN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week for the Invesco Senior Loan ETF (BKLN). During the week, the BKLN climbed 0.02 points, or 0.09%, and closed at 21.10 on Friday, April 19, 2024. Weekly volume was 88% above average.
 Long-term trend: [See BKLN long-term trend chart]
A long-term uptrend had started on September 30, 2022 at 20.06 and reached 21.27 on September 15, 2023. BKLN gained -1.21 points, or -6.03%, in 50 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 21.06 and resistance is at 21.31. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See BKLN medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 20.76 and reached 21.25 on March 13, 2024. BKLN gained -0.49 points, or -2.36%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (21.12) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See BKLN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See BKLN short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 21.25 and reached 21.04 on March 22, 2024. BKLN lost 0.21 points, or 0.99%, in 9 days. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 21.06 and resistance is at 21.11. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a short-term trend.
Daily Technical Indicators: [See BKLN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 18, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (21.13) comes close to the price (21.10). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price touches the lower Bollinger Band. The distance between the Bollinger Bands (0.57%) is close to one year low (0.57%). It is 60.49% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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