VanEck Vectors Africa Index ETF Forecast
Red day on Friday for VanEck Vectors Africa Index
(Updated on Jun 21, 2024)
The VanEck Vectors Africa Index ETF price fell by -0.251% on the last day (Friday, 21st Jun 2024) from $15.95 to $15.91. During the last trading day the ETF fluctuated 1.26% from a day low at $15.75 to a day high of $15.95. The price has been going up and down for this period, and there has been a 1.18% gain for the last 2 weeks. Volume has increased on the last day by 106 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 thousand shares were bought and sold for approximately $119.58 thousand.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.56% during the next 3 months and, with a 90% probability hold a price between $16.67 and $18.24 at the end of this 3-month period.
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AFK Signals & Forecast
The VanEck Vectors Africa Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $15.67 and $15.69. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -2.69%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). VanEck Vectors Africa Index gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for VanEck Vectors Africa Index ETF
VanEck Vectors Africa Index finds support from accumulated volume at $15.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.199 between high and low, or 1.26%. For the last week the ETF has had daily average volatility of 2.14%.
Our recommended stop-loss: $15.28 (-3.96%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (AFK) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect VanEck Vectors Africa Index ETF to open at $15.87, and during the day (based on 14 day Average True Range), to move between $15.59 and $16.23, which gives a possible trading interval of +/-$0.323 (+/-2.03%) up or down from last closing price. If VanEck Vectors Africa Index ETF takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.94 (0.19%) than the support at $15.78 (0.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is VanEck Vectors Africa Index ETF ETF A Buy?
VanEck Vectors Africa Index holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.591 Hold/Accumulate Unchanged
Predicted Opening Price for VanEck Vectors Africa Index ETF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $15.87 ( 0.249%) | $15.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.07 | 1.00% |
| R2 | 15.99 | 0.524% |
| R1 | 15.95 | 0.228% |
| Price | 15.91 | |
| S1 | 15.79 | -0.727% |
| S2 | 15.75 | -1.02% |
| S3 | 15.67 | -1.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.35 | 2.77% |
| R2 | 16.10 | 1.19% |
| R1 | 15.94 | 0.189% |
| Price | 15.91 | |
| S1 | 15.78 | -0.82% |
| S2 | 15.50 | -2.58% |
| S3 | 15.00 | -5.72% |
AFK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.314 | 2.30% |
| 2 | Jan 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.576 | 3.54% |
| 3 | Dec 17, 2021 | Dec 20, 2021 | Dec 27, 2021 | $0.84 | 4.17% |
| 4 | Jan 14, 2020 | Dec 21, 2020 | Dec 28, 2020 | $0.796 | 3.96% |
| 5 | Jan 16, 2019 | Dec 23, 2019 | Dec 30, 2019 | $1.29 | 6.35% |
FAQ
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