VT closes higher for the 2nd day in a row
Vanguard Total World Stock Index (VT) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, VT ended the month 2.58% higher at 74.80 after gaining $0.48 (0.65%) today. Closing above Monday's high at 74.32, the market confirmed its breakout through the previous session high after trading up to $0.83 above it intraday.
Daily Candlestick Chart (VT as at Jun 30, 2020):
Tuesday's trading range has been $1.15 (1.55%), that's slightly below the last trading month's daily average range of $1.27. 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 VT. Prices continued to consolidate within a tight trading range between 73.21 and 75.43 where it has been caught now for the whole last trading week.
One bullish candlestick pattern matches today's price action, the White Candle.
Vanguard Total managed to close back above the 200-day moving average at 74.60. When this moving average was crossed above the last time on June 25th, VT actually lost -1.92% on the following trading day.
The ETF shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.
Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 200" stand out. Its common bullish interpretation has been confirmed for Vanguard Total. Out of 46 times, VT closed higher 60.87% 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 71.74% with an average market move of 0.43%.