VanEck Vectors Emerging Markets High ETF Forecast

VanEck Vectors Emerging Markets High ETF upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)

HYEM Signals & Forecast

The VanEck Vectors Emerging Markets High 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 $19.14 and $18.90. 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 is rising along with the price. This is considered to be a good technical signal. 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, May 16, 2024, and so far it has fallen -0.156%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Thursday, May 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.

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 VanEck Vectors Emerging Markets High ETF

VanEck Vectors Emerging Markets High finds support from accumulated volume at $18.97 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 $0.0400 between high and low, or 0.209%. For the last week the ETF has had daily average volatility of 0.390%.

The VanEck Vectors Emerging Markets High 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: $18.55 (-3.39%) (This ETF has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (HYEM) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect VanEck Vectors Emerging Markets High Yield Bond ETF to open at $19.19, and during the day (based on 14 day Average True Range), to move between $19.10 and $19.30, which gives a possible trading interval of +/-$0.0950 (+/-0.49%) up or down from last closing price. If VanEck Vectors Emerging Markets High Yield Bond ETF takes out the full calculated possible swing range there will be an estimated 0.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $19.23 (0.16%) than the support at $18.97 (1.20%), 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 VanEck Vectors Emerging Markets High Yield Bond ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for VanEck Vectors Emerging Markets High ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.350 Buy Candidate Upgraded

Predicted Opening Price for VanEck Vectors Emerging Markets High Yield Bond ETF of Tuesday, May 21, 2024

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