VIS closes higher for the 2nd day in a row

Vanguard Industrials (VIS) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team


VIS closes higher for the 2nd day in a row
VIS pushes through Monday's high


Moving higher for the 2nd day in a row, VIS ended the month 1.53% higher at 129.92 after gaining $0.95 (0.74%) today. Closing above Monday's high at 128.98, Vanguard Industrials confirmed its breakout through the previous session high after trading up to $1.61 above it intraday.

Daily Candlestick Chart (VIS as at Jun 30, 2020):

Daily technical analysis candlestick chart for Vanguard Industrials (VIS) as at Jun 30, 2020

Tuesday's trading range has been $2.63 (2.05%), that's slightly below the last trading month's daily average range of $3.25. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for VIS.

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

Prices are trading close to the key technical resistance level at 132.21 (R1).

The ETF shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Buying might accelerate should prices move above the close-by swing high at 131.70 where further buy stops could get triggered.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Vanguard Industrials. Out of 346 times, VIS closed higher 55.49% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 62.14% with an average market move of 0.62%.

Market Conditions for VIS as at Jun 30, 2020

Loading Market Conditions for VIS (Vanguard Industrials)...
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