- Vanguard Small Cap Value ETF's downward trend will be tested at $154.34 as key support
- The lower Bollinger Band® is currently at $52.91 while the higher band is at $59.83
A persuasive break of this target could lead to higher losses. Around $155.04, Vanguard Small Cap Value ETF can look to establish a new bullish phase beyond its 10 day Simple Moving Average.
Despite muted price action in Vanguard Small Cap Value ETF, chart analysis indicates it is positioned for a bullish run in the short term.
Trend-following investors would be interested to note that around $31.94, Financial Select Sector SPDR Fund can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $32.5, thereby suggesting that Financial Select Sector SPDR Fund is becoming overvalued. Technical analysis shows that Financial Select Sector SPDR Fund's recent run now faces a major challenge as concentrated supply is likely found at $32.1 with price action currently 11 cents away.
For the time being, Financial Select Sector SPDR Fund remains flat without a clear direction.
Communication Services Select Sector SPDR Fund's run now faces a challenge at $59.44, which is only 51 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Despite posting gains on Thursday, Communication Services Select Sector SPDR Fund slid below its 5 day Simple Moving Average at $57.93 during the last session — an early indicator that a negative trend could be emerging. Communication Services Select Sector SPDR Fund's upper Bollinger Band® is now at $59.83.
Technical analysis of Communication Services Select Sector SPDR Fund price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Upcoming fundamentals: United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.