**In October 2018, Invesco announced the acquisition of OppenheimerFunds. As a result, the Oppenheimer US Revenue Model is now the Invesco US Revenue Model with the same NDW symbol ([OPPREV]). Effective August 1st, the OPPREV model will be maintained in the Invesco ETF Report, which is published each Monday morning at 9:30 am. The model rules will remain the same. If you have any questions, please call our research team at 804-320-8511.
*No changes this week. The next evaluation will occur on Thursday, August 1st.
**In October 2018, Invesco announced the acquisition of OppenheimerFunds. As a result, the Oppenheimer US Revenue Model is now the Invesco US Revenue Model with the same NDW symbol (OPPREV). Effective August 1st, the OPPREV model will be maintained in the Invesco ETF Report, which is published each Monday morning at 9:30 am. The model rules will remain the same. If you have any questions, please call our research team at 804-320-8511.
Today we want to direct your attention to the Invesco S&P 500 Revenue ETF RWL, one of the four funds in the Invesco US Revenue Model OPPREV inventory. Earlier this month, RWL broke a spread triple top at $54, marking the second consecutive buy signal on the chart. At current levels, RWL is just one box away from testing significant resistance at $55 and is just two boxes away from a new all-time high. At this time, RWL has the strongest fund score out of the four ETFs in the OPPREV inventory at 4.48 with a 1.76 score direction. Although the technical weight of the evidence is positive, OPPREV is in overbought territory here with an OBOS% reading of 70%. From current levels, initial support is offered at $50. Note RWL offers a yield of 1.84%.
