VanEck Vectors ChinaAMC SME-ChiNext ETF Forecast
VanEck Vectors ChinaAMC SME-ChiNext ETF price up 3.39% on Thursday
(Updated on May 02, 2024)
The VanEck Vectors ChinaAMC SME-ChiNext ETF price gained 3.39% on the last trading day (Thursday, 2nd May 2024), rising from $23.62 to $24.42. During the last trading day the ETF fluctuated 2.08% from a day low at $24.00 to a day high of $24.50. The price has risen in 6 of the last 10 days and is up by 7.41% 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, 12 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately $321.00 thousand.
The ETF lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $25.19 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 4.68% during the next 3 months and, with a 90% probability hold a price between $22.06 and $26.37 at the end of this 3-month period.
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CNXT Signals & Forecast
The VanEck Vectors ChinaAMC SME-ChiNext ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.40 and $23.26. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). VanEck Vectors ChinaAMC SME-ChiNext has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, March 18, 2024, and so far it has fallen -0.732%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for VanEck Vectors ChinaAMC SME-ChiNext ETF
VanEck Vectors ChinaAMC SME-ChiNext finds support from accumulated volume at $24.41 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 $0.500 (2.08%) between high and low. For the last week, the ETF has had daily average volatility of 1.01%.
Our recommended stop-loss: $23.50 (-3.76%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (CNXT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect VanEck Vectors ChinaAMC SME-ChiNext ETF to open at $24.31, and during the day (based on 14 day Average True Range), to move between $24.00 and $24.84, which gives a possible trading interval of +/-$0.421 (+/-1.72%) 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 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.41 (0.06%) than the resistance at $24.60 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is VanEck Vectors ChinaAMC SME-ChiNext ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for VanEck Vectors ChinaAMC SME-ChiNext ETF to perform well in the short-term.
Current score: 2.719 Buy Candidate Unchanged
Predicted Opening Price for VanEck Vectors ChinaAMC SME-ChiNext ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $24.31 ( 0.464%) | $24.42 |
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 | 24.81 | 1.58 % | |
| R2 | 24.62 | 0.80 % | ||
| R1 | 24.50 | 0.318 % | ||
| Current price: | 24.42 | |||
| Support | S1 | 24.12 | -1.25 % | |
| S2 | 24.00 | -1.73 % | ||
| S3 | 23.81 | -2.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 24.60 | 0.738 % | ||
| Current price | 24.42 | |||
| Support | S1 | 24.41 | -0.0561% | |
| S2 | 22.50 | -7.88% | ||
| S3 | 22.07 | -9.64% |
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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