ProShares MSCI Emerging Markets Dividend ETF Forecast

Green day on Friday for ProShares MSCI Emerging Markets Dividend
(Updated on May 17, 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 $45.10 and $43.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 7.62%. 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). ProShares MSCI Emerging Markets Dividend 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. 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.

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

ProShares MSCI Emerging Markets Dividend finds support from accumulated volume at $44.75 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 $0.0691 between high and low, or 0.151%. For the last week the ETF has had daily average volatility of 0.124%.

The ProShares MSCI Emerging Markets Dividend ETF is extremely overbought on RSI14 (76). 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.

Our recommended stop-loss: $44.27 (-3.48%) (This ETF has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 60 days ago.)

Trading Expectations (EMDV) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect ProShares MSCI Emerging Markets Dividend Growers ETF to open at $45.85, and during the day (based on 14 day Average True Range), to move between $45.58 and $46.16, which gives a possible trading interval of +/-$0.294 (+/-0.64%) 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 1.28% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $44.75, some $1.12 (2.44%) from the current price of $45.87, our system finds the risk reward attractive.

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 Monday, May 20, 2024

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