VANECK VECTORS OIL SERVICES ETF Forecast
VANECK VECTORS OIL SERVICES ETF price up 1.40% on Wednesday
(Updated on Mar 27, 2024)
The VANECK VECTORS OIL SERVICES ETF price gained 1.40% on the last trading day (Wednesday, 27th Mar 2024), rising from $330.64 to $335.27. During the last trading day the ETF fluctuated 1.51% from a day low at $330.32 to a day high of $335.31. The price has risen in 8 of the last 10 days and is up by 5.29% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 195 thousand shares were bought and sold for approximately $65.53 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 10.31% during the next 3 months and, with a 90% probability hold a price between $332.62 and $379.43 at the end of this 3-month period.
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OIH Signals & Forecast
Mostly positive signals in the chart today. The VANECK VECTORS OIL SERVICES 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 $332.68 and $308.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 18.66%. 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). 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.
Support, Risk & Stop-loss for VANECK VECTORS OIL SERVICES ETF
VANECK VECTORS OIL SERVICES finds support from accumulated volume at $322.30 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 $4.99 between high and low, or 1.51%. For the last week, the ETF has had daily average volatility of 1.48%.
Our recommended stop-loss: $325.61 (-2.88%) (This ETF has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (OIH) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect VANECK VECTORS OIL SERVICES ETF to open at $333.63, and during the day (based on 14 day Average True Range), to move between $329.38 and $341.16, which gives a possible trading interval of +/-$5.89 (+/-1.76%) up or down from last closing price. If VANECK VECTORS OIL SERVICES ETF takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $322.30, some $12.97 (3.87%) from the current price of $335.27, our system finds the risk reward attractive.
Is VANECK VECTORS OIL SERVICES 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 OIL SERVICES ETF to perform well in the short-term.
Current score: 3.578 Buy Candidate Unchanged
Predicted Opening Price for VANECK VECTORS OIL SERVICES ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$333.63 ( 0.488%) | $335.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OIH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 338.62 | 1.00 % | |
R2 | 336.72 | 0.432 % | ||
R1 | 335.54 | 0.0804 % | ||
Current price: | 335.27 | |||
Support | S1 | 331.73 | -1.06 % | |
S2 | 330.55 | -1.41 % | ||
S3 | 328.64 | -1.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 335.27 | |||
Support | S1 | 322.30 | -3.87% | |
S2 | 299.31 | -10.73% | ||
S3 | 290.22 | -13.44% |
OIH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $4.22 | 1.37% |
2 | Jan 10, 2022 | Dec 19, 2022 | Dec 23, 2022 | $2.89 | 0.96% |
3 | Dec 17, 2021 | Dec 20, 2021 | Dec 27, 2021 | $1.81 | 0.95% |
4 | Jan 14, 2020 | Dec 21, 2020 | Dec 28, 2020 | $1.89 | 1.24% |
5 | Nov 22, 2019 | Dec 23, 2019 | Dec 30, 2019 | $5.82 | 2.17% |
FAQ
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