Vanguard FTSE Canadian High Dividend ETF Forecast

Vanguard FTSE Canadian High Dividend ETF downgraded to Sell Candidate
(Updated on Jul 04, 2024)

VDY.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.80%. 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. 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 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 $43.92. On a fall, the ETF will find some support from the short-term average at $43.54. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, June 21, 2024 and based on theory for this formation the price should go up by 8.62% to $47.71 within 47 trading days (Thursday, August 29, 2024) since signal was issued.

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

Vanguard FTSE Canadian High Dividend finds support from accumulated volume at $43.39 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 $0.160 between high and low, or 0.365%. For the last week the ETF has had daily average volatility of 0.707%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (VDY.TO) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Vanguard FTSE Canadian High Dividend Yield Index ETF to open at $43.94, and during the day (based on 14 day Average True Range), to move between $43.53 and $44.31, which gives a possible trading interval of +/-$0.387 (+/-0.88%) 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 1.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.01 (0.20%) than the support at $43.39 (1.21%), 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 Vanguard FTSE Canadian High Dividend Yield Index ETF ETF A Buy?

Vanguard FTSE Canadian High Dividend holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.335 Sell Candidate Downgraded

Predicted Opening Price for Vanguard FTSE Canadian High Dividend Yield Index ETF of Friday, July 5, 2024

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