BND climbs to highest close ever
Vanguard Total Bond Market ETF (BND) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 5th day in a row, BND ended the month 0.48% higher at 88.34 after gaining $0.09 (0.1%) today. Today's close at 88.34 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 (BND as at Jun 30, 2020):
Tuesday's trading range has been $0.19 (0.22%), that's slightly below the last trading month's daily average range of $0.21. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for BND.
Two candlestick patterns are matching today's price action, the Bearish Spinning Top and the Hanging Man which are both known as bearish patterns. The last time a Bearish Spinning Top showed up on June 12th, BND actually gained 0.21% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the five 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 Total. Out of 66 times, BND closed lower 50.00% 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 60.61% with an average market move of -0.13%.