NYSEARCA: Voo stock price prediction for Thursday, October 20

  • VOO stock price is under selling pressure as it remains below the 0.236 Fibonacci retracement level.
  • VOO’s share price hit an 18-month low of $319.8 on October 13.
  • The RSI indicator moves around the half line (50 mark) after leaving the oversold zone.

It looks like the VOO ETF-NYSEARCA has bottomed out after turning down a key support area. At this point, buyers swung into action due to global market uncertainty. As a result, the Vanguard 500 Index Fund ETF, VOO stock price has risen sharply over the past 10 days.

After breaking below the crucial $350 support level, VOO stock price set a wide price range of $300-$350 as resistance. Although the last yearly low of $319.8 was recorded on October 13, Nutt could somehow try to drive the price of the asset closer to the conceptual level of $300.

The daily price scale shows a clear history of VOO stock price as it is downtrend and often falls near the downtrend line. Thus, the bears moved lower highs than the previous one. Therefore, the market is under extreme selling pressure.

However, based on the monthly charts, the buyers are working aggressively despite the pumps and dumps. Thus, the value of the stock has been recapitalized by 3.14% so far in the month. In contrast, swing traders are facing problems due to major crashes in indices such as the S&P 500, Nasdaq and Dow Jones. On Wednesday, the global market was down and closed in the red. Thus, NYSEARCA:VOO stock price also gave a negative close of 0.69% lower.

Vanguard 500 Index Fund ETF-VOO stock last closed at $338.6, down 0.69%. However, the trading volume was $4.3 million overnight. Pre-market session shows slight positivity in Voo share price.

Due to the opening of the gap-up, the VOO share price moved to the 20-day moving average in terms of the daily price scale. Later it switched to instant support. Moreover, the RSI indicator is moving around the half line (50 mark) after leaving the oversold zone.

Also Read: Ethereum Price Prediction: When Will ETH Surpass $1,500 Amid This Cryptocurrency Bloodbath?

Conclusion

Vanguard 500 Index Fund ETF-VOO Share price should open positive towards the pre-market session. The price of the asset above 20 DMA will help the buyers to push it towards the resistance level of $350.

Support level – $320 and $300

Resistance level – $350 and $400

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.

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