“While there is a little more room to the upside, the descending trendline and 200-day moving averages are likely to prevent the longer-term trend from reversing. Investors with a long-term view may want to wait on the sidelines for several weeks to see how the price reacts once it tests the resistance levels,” according to Investopedia.
On the other hand, VTV’s recent strength confirms the notion that market uncertainty often prompts investors to embrace value stocks. That sentiment could bode for higher near-term returns for VTV and rival value ETFs.
VTV will need some help from some beaten-up sectors to grind higher, notably financial services. This year’s worst-performing sector is VTV’s largest sector weight at 22.2%, well ahead of second-place healthcare within the fund.
Vanguard Value ETF
