Vanguard FTSE Canadian High Dividend ETF Forecast

Vanguard FTSE Canadian High Dividend ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)

VDY.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.0468%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Vanguard FTSE Canadian High Dividend ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $43.03 and $44.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Vanguard FTSE Canadian High Dividend ETF

Vanguard FTSE Canadian High Dividend finds support from accumulated volume at $42.77 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 $0.290 between high and low, or 0.678%. For the last week the ETF has had daily average volatility of 0.82%.

Vanguard FTSE Canadian High Dividend is oversold on RSI14 (16). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $39.93 (-6.68%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 16 which reduces the risk some. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (VDY.TO) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Vanguard FTSE Canadian High Dividend Yield Index ETF to open at $42.86, and during the day (based on 14 day Average True Range), to move between $42.38 and $43.20, which gives a possible trading interval of +/-$0.407 (+/-0.95%) up or down from last closing price. If Vanguard FTSE Canadian High Dividend Yield Index ETF takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $42.77 (0.05%) than the resistance at $42.85 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Vanguard FTSE Canadian High Dividend Yield Index ETF ETF A Buy?

Vanguard FTSE Canadian High Dividend holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.110 Hold/Accumulate Upgraded

Predicted Opening Price for Vanguard FTSE Canadian High Dividend Yield Index ETF of Friday, June 21, 2024

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