Vaneck Digital India Etf ETF Forecast
Green day on Friday for Vaneck Digital India Etf
(Updated on Jun 28, 2024)
The Vaneck Digital India Etf ETF price gained 0.209% on the last trading day (Friday, 28th Jun 2024), rising from $40.76 to $40.85. It has now gained 6 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 0.0490% from a day low at $40.85 to a day high of $40.87. The price has risen in 9 of the last 10 days and is up by 3.86% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $61.93 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $39.09, a level that may pose a second chance to hit a runner. According to fan-theory $41.43 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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DGIN Signals & Forecast
The Vaneck Digital India Etf 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 $40.09 and $38.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 12.54%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Vaneck Digital India Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $38.78 and $38.41. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Vaneck Digital India Etf finds support just below today's level at $38.78. If this is broken, then the next support from accumulated volume will be at $38.41 and $38.22.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.0200 between high and low, or 0.0490%. For the last week the ETF has had daily average volatility of 0.425%.
The Vaneck Digital India Etf ETF is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken. Since the Vaneck Digital India Etf has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $39.32 (-3.74%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (DGIN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vaneck Digital India Etf to open at $40.86, and during the day (based on 14 day Average True Range), to move between $40.46 and $41.24, which gives a possible trading interval of +/-$0.391 (+/-0.96%) up or down from last closing price. If Vaneck Digital India Etf takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $38.78, some $2.07 (5.07%) from the current price of $40.85, our system finds the risk reward attractive.
Is Vaneck Digital India Etf ETF A Buy?
Vaneck Digital India Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Digital India Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $40.86 ( 0.0163%) | $40.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DGIN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.88 | 0.0653% |
| R2 | 40.87 | 0.0466% |
| R1 | 40.86 | 0.0350% |
| Price | 40.85 | |
| S1 | 40.85 | -0.0024% |
| S2 | 40.84 | -0.0139% |
| S3 | 40.84 | -0.0326% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 40.85 | |
| S1 | 38.78 | -5.07% |
| S2 | 38.41 | -5.97% |
| S3 | 38.22 | -6.44% |
FAQ
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