VanEck Vectors Junior Gold Miners ETF Forecast
Green day on Friday for VanEck Vectors Junior Gold Miners ETF after gaining 1.27%
(Updated on Apr 19, 2024)
The VanEck Vectors Junior Gold Miners ETF price gained 1.27% on the last trading day (Friday, 19th Apr 2024), rising from $41.66 to $42.19. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.10% from a day low at $41.71 to a day high of $42.59. The price has risen in 6 of the last 10 days and is up by 0.74% over the past 2 weeks. Volume fell on the last day by -73 thousand shares and in total, 6 million shares were bought and sold for approximately $237.29 million. 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 29.73% during the next 3 months and, with a 90% probability hold a price between $48.05 and $56.92 at the end of this 3-month period.
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GDXJ Signals & Forecast
The VanEck Vectors Junior Gold Miners 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 $41.80 and $38.47. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Thursday, April 11, 2024, and so far it has fallen -1.66%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for VanEck Vectors Junior Gold Miners ETF
VanEck Vectors Junior Gold Miners finds support from accumulated volume at $41.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.88 between high and low, or 2.10%. For the last week, the ETF has had daily average volatility of 2.74%.
Our recommended stop-loss: $40.64 (-3.66%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (GDXJ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect VanEck Vectors Junior Gold Miners ETF to open at $42.16, and during the day (based on 14 day Average True Range), to move between $40.94 and $43.44, which gives a possible trading interval of +/-$1.25 (+/-2.96%) up or down from last closing price. If VanEck Vectors Junior Gold Miners ETF takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.99 (0.47%) than the resistance at $42.66 (1.11%), 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 Junior Gold Miners ETF ETF A Buy?
VanEck Vectors Junior Gold Miners 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: 0.852 Hold/Accumulate Unchanged
Predicted Opening Price for VanEck Vectors Junior Gold Miners ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $42.16 ( 0.0672%) | $42.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDXJ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.04 | 2.01 % | |
| R2 | 42.70 | 1.21 % | ||
| R1 | 42.50 | 0.725 % | ||
| Current price: | 42.19 | |||
| Support | S1 | 41.83 | -0.86 % | |
| S2 | 41.62 | -1.35 % | ||
| S3 | 41.29 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 42.90 | 1.68 % | ||
| R1 | 42.66 | 1.11 % | ||
| Current price | 42.19 | |||
| Support | S1 | 41.99 | -0.474% | |
| S2 | 41.88 | -0.735% | ||
| S3 | 34.75 | -17.63% |
GDXJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.274 | 0.733% |
| 2 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $0.183 | 0.507% |
| 3 | Dec 17, 2021 | Dec 20, 2021 | Dec 27, 2021 | $0.745 | 1.79% |
| 4 | Jan 14, 2020 | Dec 21, 2020 | Dec 28, 2020 | $0.86 | 1.61% |
| 5 | Jan 16, 2019 | Dec 23, 2019 | Dec 30, 2019 | $0.164 | 0.387% |
FAQ
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