(EQL) Invesco SP500 Equal Weight - Ratings and Ratios

Invesco S&P 500 Equal Weight Index ETF CAD Units (TO:EQL) is an exchange-traded fund designed to provide exposure to US equities through an equal-weighted approach. Unlike traditional market-cap weighted indexes, EQL allocates equal weight to each constituent, emphasizing smaller companies and potentially offering diversification benefits. The ETF tracks the Morningstar US Market TR CAD Index, comprising 500 US stocks. With moderate average trading volume of 79,650 shares over 20 days and a last price of 35.50, EQL indicates steady investor activity. Technically, its slightly below its 20-day SMA of 34.61 but above the 50-day SMA of 36.73 and 200-day SMA of 37.06, signaling a potential bullish trend if it maintains these levels. The ATR of 0.93 reflects manageable volatility.

Over the next three months, EQL is expected to consolidate near its current levels, potentially testing the SMA50 resistance at 36.73. If it breaks above, an uptrend towards the SMA200 at 37.06 is likely. Support is anticipated around the SMA20 at 34.61. With an AUM of 1453.49M CAD, EQLs substantial size underscores investor confidence and liquidity, supporting stable performance amid moderate volatility indicated by the ATR.