VanEck Vectors Australian Banks ETF Forecast
VanEck Vectors Australian Banks ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The VanEck Vectors Australian Banks ETF price gained 0.80% on the last trading day (Friday, 28th Jun 2024), rising from A$34.90 to A$35.18. During the last trading day the ETF fluctuated 1.00% from a day low at A$35.10 to a day high of A$35.45. The price has risen in 6 of the last 10 days and is up by 2.21% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 12 thousand shares were bought and sold for approximately A$426.66 thousand. 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 narrow and weak 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 8.57% during the next 3 months and, with a 90% probability hold a price between A$36.96 and A$38.74 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MVB.AX Signals & Forecast
The VanEck Vectors Australian Banks ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately A$35.19. On a fall, the ETF will find some support from the long-term average at approximately A$34.33. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 25, 2024, and so far it has fallen -1.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for VanEck Vectors Australian Banks ETF
VanEck Vectors Australian Banks finds support from accumulated volume at A$34.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved A$0.350 between high and low, or 1.00%. For the last week the ETF has had daily average volatility of 0.94%
Our recommended stop-loss: A$33.79 (-3.95%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (MVB.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect VanEck Vectors Australian Banks ETF to open at A$35.24, and during the day (based on 14 day Average True Range), to move between A$34.80 and A$35.56, which gives a possible trading interval of +/-A$0.376 (+/-1.07%) up or down from last closing price. If VanEck Vectors Australian Banks ETF takes out the full calculated possible swing range there will be an estimated 2.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$35.21 (0.09%) than the support at A$34.00 (3.35%), 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 Australian Banks ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for VanEck Vectors Australian Banks ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.472 Buy Candidate Upgraded
Predicted Opening Price for VanEck Vectors Australian Banks ETF of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
A$35.24 ( 0.180%) | A$35.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MVB.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.59 | 1.17% |
R2 | 35.46 | 0.795% |
R1 | 35.38 | 0.560% |
Price | 35.18 | |
S1 | 35.11 | -0.200% |
S2 | 35.03 | -0.435% |
S3 | 34.89 | -0.81% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.54 | 1.02% |
R2 | 35.30 | 0.341% |
R1 | 35.21 | 0.0853% |
Price | 35.18 | |
S1 | 34.00 | -3.35% |
S2 | 33.34 | -5.23% |
S3 | 32.66 | -7.16% |
MVB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 02, 2024 | Apr 02, 2024 | Apr 17, 2024 | A$0.490 | 1.53% |
2 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | A$0.84 | 2.95% |
3 | Aug 01, 2023 | Aug 01, 2023 | Aug 01, 2023 | A$0.480 | 1.63% |
4 | Apr 03, 2023 | Apr 03, 2023 | Apr 03, 2023 | A$0.130 | 0.457% |
5 | Dec 01, 2022 | Dec 01, 2022 | Dec 01, 2022 | A$0.750 | 2.43% |
FAQ
Click here for our free guide on how to buy VanEck Vectors Australian Banks ETF ETF.