Vaneck Sustainable World Equal Weight ETF Forecast
Vaneck Sustainable World Equal Weight ETF downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Vaneck Sustainable World Equal Weight ETF price gained 0.220% on the last trading day (Friday, 28th Jun 2024), rising from 31.85€ to 31.92€. During the last trading day the ETF fluctuated 0.565% from a day low at 31.87€ to a day high of 32.05€. The price has fallen in 5 of the last 10 days but is still up by 1.14% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately 476.98€ thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Vaneck Sustainable World Equal Weight ETF with a 90% probability to be traded between 32.26€ and 32.60€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TSWE.AS Signals & Forecast
The Vaneck Sustainable World Equal Weight 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 31.91€ and 31.68€. 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). Vaneck Sustainable World Equal Weight has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, June 24, 2024, and so far it has fallen -0.219%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Vaneck Sustainable World Equal Weight ETF
Vaneck Sustainable World Equal Weight finds support from accumulated volume at 31.74€ 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 0.180€ between high and low, or 0.565%. For the last week the ETF has had daily average volatility of 0.590%.
Our recommended stop-loss: 30.67€ (-3.91%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (TSWE.AS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vaneck Sustainable World Equal Weight Ucits Etf to open at 31.95€, and during the day (based on 14 day Average True Range), to move between 31.67€ and 32.17€, which gives a possible trading interval of +/-0.246€ (+/-0.77%) up or down from last closing price. If Vaneck Sustainable World Equal Weight Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 31.93€ (0.03%) than the support at 31.74€ (0.56%), 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 Sustainable World Equal Weight Ucits Etf ETF A Buy?
Vaneck Sustainable World Equal Weight 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.265 Hold/Accumulate Downgraded
Predicted Opening Price for Vaneck Sustainable World Equal Weight Ucits Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 31.95€ ( 0.0835%) | 31.92€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSWE.AS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.13 | 0.647% |
| R2 | 32.06 | 0.432% |
| R1 | 32.02 | 0.299% |
| Price | 31.92 | |
| S1 | 31.88 | -0.132% |
| S2 | 31.84 | -0.265% |
| S3 | 31.77 | -0.480% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 31.99 | 0.219% |
| R1 | 31.93 | 0.0313% |
| Price | 31.92 | |
| S1 | 31.74 | -0.564% |
| S2 | 31.65 | -0.85% |
| S3 | 31.55 | -1.16% |
FAQ
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