BND ends the day on a bullish note closing near the high of the day


Vanguard Total Bond Market ETF (BND) Technical Analysis Report for May 29, 2020 | by Techniquant Editorial Team

Highlights

BND rises to highest close since March 6th
BND closes higher for the 3rd day in a row
BND ends the day on a bullish note closing near the high of the day

Overview

Moving higher for the 3rd day in a row, BND ended the month 0.47% higher at 87.92 after gaining $0.25 (0.29%) today. Today's close at 87.92 marks the highest recorded closing price since March 6th. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (BND as at May 29, 2020):

Daily technical analysis candlestick chart for Vanguard Total Bond Market ETF (BND) as at May 29, 2020

Friday's trading range has been $0.31 (0.35%), that's above the last trading month's daily average range of $0.22. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for BND.

One bullish candlestick pattern matches today's price action, the White Candle.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for Vanguard Total. Out of 181 times, BND closed lower 54.14% 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 49.17% with an average market move of -0.02%.


Market Conditions for BND as at May 29, 2020

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