VanEck Vectors ChinaAMC China Bond ETF Forecast

Red day on Monday for VanEck Vectors ChinaAMC China Bond
(Updated on May 20, 2024)

CBON Signals & Forecast

There are few to no technical positive signals at the moment. The VanEck Vectors ChinaAMC China Bond ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $21.93 and $21.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -0.564%. 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 ChinaAMC China Bond 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". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Tuesday, April 30, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Buy

Special Signal Notification

Golden Star 12 Months

The ETF had a Golden Star Signal on Tuesday, April 30, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, May 03, 2024 and based on theory for this formation the price should fall by -0.430% to $21.79 within 9 trading days since signal was issued (Tuesday, May 21, 2024).

Support, Risk & Stop-loss for VanEck Vectors ChinaAMC China Bond ETF

VanEck Vectors ChinaAMC China Bond finds support from accumulated volume at $21.84 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 $0.0250 between high and low, or 0.114%. For the last week the ETF has had daily average volatility of 0.0731%.

Our recommended stop-loss: $20.59 (-5.92%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (CBON) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect VanEck Vectors ChinaAMC China Bond ETF to open at $21.89, and during the day (based on 14 day Average True Range), to move between $21.83 and $21.94, which gives a possible trading interval of +/-$0.0546 (+/-0.25%) up or down from last closing price. If VanEck Vectors ChinaAMC China Bond ETF takes out the full calculated possible swing range there will be an estimated 0.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $21.91 (0.13%) than the support at $21.84 (0.19%), 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 ChinaAMC China Bond ETF ETF A Buy?

VanEck Vectors ChinaAMC China Bond 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for VanEck Vectors ChinaAMC China Bond ETF of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.