With no changes to any of the Invesco models this week, we look at the Invesco S&P Equal Weight Technology ETF (RSPT).
There are no changes to any of the Invesco models this week. Technology has recently overtaken financials to move into second in the DALI domestic equity sector rankings, trailing only the closely related communication services sector. Investors looking to add technology exposure in light of its relative strength should consider the Invesco S&P Equal Weight Technology ETF (RSPT).
RSPT currently has a strong 5.26 fund score, which is 0.64 points better than the average for all technology and communications funds, and a positive 3.91 score direction. On its default chart, the fund has completed three consecutive buy signals, most recently breaking a double top at $43 in last week’s trading, which market a new all-time high for the fund. Although it sits near an all-time high, RSPT remains in actionable territory on its 10-week trading band with a weekly overbought/oversold (OBOS) reading of 37% and the fund has most recently found support at $40.50. Year-to-date (through 9/12) RSPT has gained 13.95% on a price return basis, outpacing the S&P 500 (SPX) by 2%.