MARKET VECTORS BIOTECH ETF Stock Forecast
Stronger technical forecast for MARKET VECTORS BIOTECH ETF stock price after Friday trading.
(Updated on May 03, 2024)
The MARKET VECTORS BIOTECH ETF stock price gained 3.08% on the last trading day (Friday, 3rd May 2024), rising from £142.80 to £147.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.38% from a day low at £141.40 to a day high of £147.60. The price has risen in 7 of the last 10 days and is up by 4.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately £394.26 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.93% during the next 3 months and, with a 90% probability hold a price between £131.19 and £143.57 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BBH.L Signals & Forecast
Mostly positive signals in the chart today. The MARKET VECTORS BIOTECH ETF stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock 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 £142.63 and £146.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 4.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for MARKET VECTORS BIOTECH ETF stock
MARKET VECTORS BIOTECH ETF finds support from accumulated volume at £146.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £6.20 (4.38%) between high and low. For the last week, the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: £140.57 (-4.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (BBH.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect MARKET VECTORS BIOTECH ETF to open at £145.40, and during the day (based on 14 day Average True Range), to move between £143.92 and £150.48, which gives a possible trading interval of +/-£3.28 (+/-2.23%) up or down from last closing price. If MARKET VECTORS BIOTECH ETF takes out the full calculated possible swing range there will be an estimated 4.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £146.00 (0.82%) than the resistance at £149.60 (1.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MARKET VECTORS BIOTECH ETF stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.327 Buy Candidate Upgraded
Predicted Opening Price for MARKET VECTORS BIOTECH ETF of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
£145.40 ( 1.22%) | £147.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBH.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 151.60 | 2.99 % | |
R2 | 149.23 | 1.38 % | ||
R1 | 147.77 | 0.386 % | ||
Current price: | 147.20 | |||
Support | S1 | 143.03 | -2.83 % | |
S2 | 141.57 | -3.83 % | ||
S3 | 139.20 | -5.43 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 151.00 | 2.58 % | |
R2 | 150.40 | 2.17 % | ||
R1 | 149.60 | 1.63 % | ||
Current price | 147.20 | |||
Support | S1 | 146.00 | -0.82% | |
S2 | 144.20 | -2.04% | ||
S3 | 142.20 | -3.40% |
BBH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 09, 2024 | May 09, 2024 | May 31, 2024 | £3.00 | 2.03% |
2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | £3.00 | 1.98% |
3 | Mar 06, 2023 | Mar 16, 2023 | May 05, 2023 | £3.24 | 2.10% |
4 | Jul 07, 2022 | Jul 21, 2022 | Sep 02, 2022 | £3.24 | 1.89% |
5 | Feb 28, 2022 | Mar 17, 2022 | Apr 28, 2022 | £3.02 | 1.78% |
FAQ
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