VanEck Vectors ChinaAMC SME-ChiNext ETF Forecast
Red day on Friday for VanEck Vectors ChinaAMC SME-ChiNext
(Updated on Apr 19, 2024)
The VanEck Vectors ChinaAMC SME-ChiNext ETF price fell by -1.65% on the last day (Friday, 19th Apr 2024) from $22.74 to $22.36. During the last trading day the ETF fluctuated 0.269% from a day low at $22.32 to a day high of $22.38. The price has fallen in 6 of the last 10 days and is down by -4.24% for this period. Volume has increased on the last day by 458 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, 2 thousand shares were bought and sold for approximately $36.29 thousand.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $21.65 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 9.91% during the next 3 months and, with a 90% probability hold a price between $23.80 and $27.97 at the end of this 3-month period.
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CNXT Signals & Forecast
There are few to no technical positive signals at the moment. The VanEck Vectors ChinaAMC SME-ChiNext ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $22.53 and $23.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -9.11%. 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 SME-ChiNext 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.
Support, Risk & Stop-loss for VanEck Vectors ChinaAMC SME-ChiNext ETF
VanEck Vectors ChinaAMC SME-ChiNext finds support from accumulated volume at $22.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.0600 (0.269%) between high and low. For the last week, the ETF has had daily average volatility of 0.296%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNXT) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect VanEck Vectors ChinaAMC SME-ChiNext ETF to open at $22.35, and during the day (based on 14 day Average True Range), to move between $21.97 and $22.75, which gives a possible trading interval of +/-$0.386 (+/-1.73%) up or down from last closing price. If VanEck Vectors ChinaAMC SME-ChiNext ETF takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.45 (0.40%) than the support at $22.07 (1.32%), 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 SME-ChiNext ETF ETF A Buy?
The VanEck Vectors ChinaAMC SME-ChiNext ETF holds several negative signals and despite the positive trend, we believe VanEck Vectors ChinaAMC SME-ChiNext will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -3.619 Sell Candidate Unchanged
Predicted Opening Price for VanEck Vectors ChinaAMC SME-ChiNext ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $22.35 ( 0.0298%) | $22.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNXT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.41 | 0.239 % | |
| R2 | 22.39 | 0.136 % | ||
| R1 | 22.38 | 0.0727 % | ||
| Current price: | 22.36 | |||
| Support | S1 | 22.33 | -0.132 % | |
| S2 | 22.32 | -0.196 % | ||
| S3 | 22.29 | -0.298 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.41 | 9.15 % | |
| R2 | 22.50 | 0.604 % | ||
| R1 | 22.45 | 0.401 % | ||
| Current price | 22.36 | |||
| Support | S1 | 22.07 | -1.32% | |
| S2 | 21.48 | -3.94% | ||
| S3 | 20.82 | -6.89% |
CNXT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 15, 2021 | Dec 20, 2021 | Dec 27, 2021 | $4.47 | 9.28% |
| 2 | Dec 18, 2020 | Dec 21, 2020 | Dec 28, 2020 | $0.0040 | 0.0086% |
| 3 | Jan 16, 2019 | Dec 23, 2019 | Dec 30, 2019 | $0.135 | 0.462% |
| 4 | Dec 15, 2017 | Dec 18, 2017 | Dec 22, 2017 | $0.0650 | 0.188% |
FAQ
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