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Advanced TA SearchArchive
- 11/24/2023 -
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Invesco Senior Loan ETF (BKLN) Technical Analysis
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| Summary:
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| | It was the negative week for the Invesco Senior Loan ETF (BKLN). During the week, the BKLN gave back -0.17 points, or -0.81%, and closed at 20.89 on Friday, November 24, 2023. Weekly volume was -48% below 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 Ascending Triangle chart pattern. The trend support level is at 20.73 and resistance is at 21.28. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a long-term trend.
 Medium-term trend: [See BKLN medium-term trend chart]
A medium-term downtrend had started on September 15, 2023 at 21.27 and reached 20.76 on October 27, 2023. BKLN lost 0.51 points, or 2.40%, in 6 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (20.68) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BKLN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 20, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See BKLN short-term trend chart]
A short-term uptrend had started on October 27, 2023 at 20.76 and reached 21.09 on November 14, 2023. BKLN gained -0.33 points, or -1.59%, in 18 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (21.20) 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 short-term trend.
Daily Technical Indicators: [See BKLN daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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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