CNXT Technical Analysis - VANECK CHINEXT ETF

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to CNXT. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CNXT is showing a nice and steady performance.

Warning: CNXT has an average volume of 29140 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

Both the short term and long term trends are positive. This is a very positive sign.

CNXT is part of the Automobile Components industry. There are 81 other stocks in this industry. CNXT outperforms 87% of them.

CNXT is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month CNXT has a been trading in the 38.90 - 44.96 range, which is quite wide. It is currently trading near the high of this range.

When comparing the yearly performance of all stocks, we notice that CNXT is one of the better performing stocks in the market, outperforming 88% of all stocks. However, this relatively good performance is mostly due to a recent big move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

VANECK CHINEXT ETF / CNXT Weekly stock chart

VANECK CHINEXT ETF / CNXT Daily stock chart

Setup Rating and Analysis

Although CNXT has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

19.49

44.80

When analyzing the support we can see 6 important areas.

A support zone ranging from 41.85 to 42.33. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @36.56 from a trend line in the daily time frame.
Support @32.53 from a trend line in the daily time frame.
Support @27.97 from a trend line in the weekly time frame.
Support @25.17 from a horizontal line in the weekly time frame.
Support @19.69 from a horizontal line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for CNXT is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for CNXT is up.
ChartMill Relative Strength	88.49	POSITIVE	CNXT has a high relative strength, it outperformed 88.49% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CNXT is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of CNXT is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of CNXT is above the rising SMA(200).
Relative Strength Index/RSI (14)	68.62	NEUTRAL	The RSI value for CNXT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.08	NEGATIVE	The MACD value suggests CNXT has a negative trend.
Stochastics (14,3)	89.56	OVERBOUGHT	The high Stochastics value suggests CNXT may be overbought.
Average True Range in percent/ATR (20)	1.85	LOW VOLATILITY	The low ATR as a percentage value for CNXT suggests low volalility.
Average Directional Index/ADX (14)	42.2	POSITIVE	The high ADX value value for CNXT suggests a strong trend.