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- 3/28/2024 -
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Invesco Senior Loan ETF (BKLN) Technical Analysis

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Summary:
Weekly :
Daily :Stochastic has raised above the signal lineA Parabolic SAR indicator is below and near the pricePrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Invesco Senior Loan ETF (BKLN). During the week, the BKLN climbed 0.10 points, or 0.48%, and closed at 21.15 on Thursday, March 28, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 50% 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 21.02 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 price is now at the 20.41% retracement level.

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 and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 price is now at the 52.38% retracement level.

Daily Technical Indicators: [See BKLN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The distance between MACD and the signal line is low and getting smaller.

A Parabolic SAR (stop and reversal) indicator (21.2) comes close to the price (21.15). 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.

During the last week, the price has moved above 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.45
Williams' Percentage Range (W%R) 61.90
Lane's Stochastic (%D-Slow) 32.92
Greed/Fear Indicator (GFI) 38.82
Moving Average Converg./Diverg. (MACD) 0.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.38
Williams' Percentage Range (W%R) 32.50
Lane's Stochastic (%D-Slow) 61.40
Greed/Fear Indicator (GFI) 59.41
Moving Average Converg./Diverg. (MACD) 0.04
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 21.31
Upper Bollinger Band 21.23
Parabolic System 21.20
Weekly Stochastic Crossing 21.16
Price 21.15
20 Day Moving Average 21.15
50 Day Moving Average 21.10
Daily Stochastic Crossing 21.09
Quarterly Trendline Support 21.02
Lower Bollinger Band 21.02
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 21.25
High Date 03/13/2024
Low 21.04
Low Date 03/22/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.99
Low Date 02/20/2024
High 21.25
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.76
Low Date 10/27/2023
High 21.25
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 21.31
Support 21.02
Low 20.06
Low Date 09/30/2022
High 21.27
High Date 09/15/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 22.20
High Date 01/14/2022
Low 20.06
Low Date 09/30/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.