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- VOO stock price is under selling pressure as it remains below the 0.236 Fibonacci retracement level.
- The VOO stock price hit an 18-month low of $319.8 on October 13.
- The RSI indicator moves around the semi-line (50 mark) after reversing from 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 the uncertainty in the global market. Therefore, the Vanguard 500 Index Fund ETF, VOO stock price has risen sharply over the past 10 days.
After falling below the crucial support level of $350, VOO stock price has set a broad price range of $300 to $350 as resistance. Although the latest yearly low of $319.8 was recorded on October 13th, Nutt could somehow try to pull the asset price down closer to the conceptual round level of $300.
The daily price scale shows a clear story of VOO stock price as it is in downtrend and often falls near bearish trendline. Thus bears have been shifting highs lower than the previous one. Therefore, the market is under extreme selling pressure.
However, based on monthly charts, buyers work aggressively despite pump and dumps. Thus share value recapitalized by 3.14% so far in month. In contrast, swing traders face trouble due to major indices crashes like S&P 500, Nasdaq and Dow Jones. On Wednesday the global market was down and closed in red. Thus NYSEARCA:VOO stock price also gave negative closing by 0.69% lower.
The last closing price of the Vanguard 500 Index Fund ETF-VOO stock was $338.6, down by 0.69%. However, trading volume was $4.3 million overnight. The pre-market session displays slightly positivity in Voo stock price.
Due to the gap-up opening, VOO stock price moved up to the 20-day moving average in terms of the daily price scale. Later, it flipped to instant support. Moreover, the RSI indicator moves around the semi-line (50 mark) after reversing from the oversold zone.
Conclusion
Vanguard 500 Index Fund ETF-VOO Stock price is likely to open positive towards the pre-market session. Price of the asset above 20 DMA will help buyers push it towards the $350 resistance level.
Support level – $320 and $300
Resistance level – $350 and $400
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
