BIV rises to highest close ever
Vanguard Intermediate-Term Bond (BIV) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, BIV finished the month 0.9% higher at 93.19 after gaining $0.03 (0.03%) today. Today's close at 93.19 marks the highest recorded closing price ever. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (BIV as at Jun 30, 2020):
Tuesday's trading range has been $0.19 (0.2%), that's below the last trading month's daily average range of $0.26. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for BIV.
One bearish candlestick pattern matches today's price action, the Hanging Man. The last time a Hanging Man showed up on April 16th, BIV lost -0.04% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Hanging Man" stand out. Its common bearish interpretation has been confirmed for Vanguard. Out of 82 times, BIV closed lower 57.32% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 51.22% with an average market move of -0.11%.