ProShares MSCI Emerging Markets Dividend ETF Forecast

ProShares MSCI Emerging Markets Dividend ETF price ended at $44.50 on Wednesday, after losing 0.636%.
(Updated on May 08, 2024)

EMDV Signals & Forecast

The ProShares MSCI Emerging Markets Dividend 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 $44.47 and $43.68. 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). 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 Friday, May 03, 2024, and so far it has fallen -0.732%. Further fall is indicated until a new bottom pivot has been found. ProShares MSCI Emerging Markets Dividend 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 Thursday, April 25, 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 Thursday, April 25, 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 -4.81% to $42.36 within 50 trading days since signal was issued (Thursday, May 09, 2024).

Support, Risk & Stop-loss for ProShares MSCI Emerging Markets Dividend ETF

ProShares MSCI Emerging Markets Dividend finds support from accumulated volume at $43.83 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.196%.

The ProShares MSCI Emerging Markets Dividend ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $43.29 (-2.73%) (This ETF has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (EMDV) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect ProShares MSCI Emerging Markets Dividend Growers ETF to open at $44.50, and during the day (based on 14 day Average True Range), to move between $44.15 and $44.85, which gives a possible trading interval of +/-$0.345 (+/-0.78%) up or down from last closing price. If ProShares MSCI Emerging Markets Dividend Growers ETF takes out the full calculated possible swing range there will be an estimated 1.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.50 (0.00%) than the support at $43.83 (1.51%), 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 ProShares MSCI Emerging Markets Dividend Growers ETF ETF A Buy?

ProShares MSCI Emerging Markets Dividend 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 ProShares MSCI Emerging Markets Dividend Growers ETF of Thursday, May 9, 2024

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