Weekly chart showing the channel down for PEY.
Invesco High Yield Equity Dividend Achievers ETF (PEY)
The weekly view of PEY shows the downward channel PEY is in. I already hold a position in PEY, but another nice entry would be the Mid to Low $17 area. Personally, I have money set aside to enter at $17.40 or so. I'd expect more to the downside in the following weeks as the Fed determines when (if) to lower rates. I imagine that only then will we see a significant move to the upside.
(None of this is trading advice and I am not a professional advisor.)
The weekly view of PEY shows the downward channel PEY is in. I already hold a position in PEY, but another nice entry would be the Mid to Low $17 area. Personally, I have money set aside to enter at $17.40 or so. I'd expect more to the downside in the following weeks as the Fed determines when (if) to lower rates. I imagine that only then will we see a significant move to the upside.
(None of this is trading advice and I am not a professional advisor.)
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