FlexShares High Yield Value-Scored Bond ETF Forecast

FlexShares High Yield Value-Scored Bond ETF upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)

HYGV Signals & Forecast

There are mixed signals in the ETF today. The FlexShares High Yield Value-Scored Bond ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $40.68. On a fall, the ETF will find some support from the short-term average at $40.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.18%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 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 FlexShares High Yield Value-Scored Bond ETF

FlexShares High Yield Value-Scored Bond finds support from accumulated volume at $40.01 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 $0.159 between high and low, or 0.395%. For the last week the ETF has had daily average volatility of 0.346%.

Our recommended stop-loss: $38.49 (-4.73%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (HYGV) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect FlexShares High Yield Value-Scored Bond Index Fund to open at $40.37, and during the day (based on 14 day Average True Range), to move between $40.22 and $40.58, which gives a possible trading interval of +/-$0.178 (+/-0.44%) up or down from last closing price. If FlexShares High Yield Value-Scored Bond Index Fund takes out the full calculated possible swing range there will be an estimated 0.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $40.48 (0.20%) than the support at $40.01 (0.97%), 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 FlexShares High Yield Value-Scored Bond Index Fund ETF A Buy?

FlexShares High Yield Value-Scored Bond 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.137 Hold/Accumulate Upgraded

Predicted Opening Price for FlexShares High Yield Value-Scored Bond Index Fund of Thursday, April 25, 2024

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