Buy on the Dip Prospects: November 7 Edition

Below is a look at ETFs that currently offer attractive buying opportunities.The ETFs included in this list are rated as buy candidates for two reasons. First, each of these funds is deemed to be in an uptrend based on the fact that its 50-day moving average is above its 200-day moving average, which are popular indicators for gauging medium-term and long-term trends, respectively.Second, each of these ETFs is also trading below its 20-day moving average, thereby offering a near-term “buy on the dip” opportunity given the longer-term uptrend at hand. Note that this list also features a liquidity screen by excluding ETFs with average trading volumes below the one million shares mark. As always, investors of all experience levels are advised to use stop-loss orders and practice disciplined profit-taking techniques.To get access to all premium content, sign up for a free 14-day trial to Pro.A total of 13 ETFs made it to the list of buy on the dip prospects this week. U.S. stocks fell amidst rising interest rates and the impact of the trade war between the U.S. and China.Gold Miners Bear 3X Direxion ETF (DUST B-), which seeks 300% of the inverse of the performance of the Gold Miners Index, topped the list of buy on the dip prospects as gold prices increased by over 3% during the month. Gold prices regained as the U.S. dollar weakened.ProShares Ultra Dow30 (DDM A), which offers 2x daily long leverage to the broad-based Dow Jones Industrial Average Index, also featured on the list, as the index fell by more than 4% during the month.iShares S&P 500 Growth ETF (IVW A) and PowerShares S&P 500 Low Volatility Portfolio (SPLV A) also made it to the list of buy on the dip prospects as the index declined by more than 5% during the month.Health Care Select Sector SPDR Fund (XLV A), which tracks the S&P 500 healthcare stocks, was one of the buy on the dip candidates, as the healthcare sector declined by more than 6% during the month.ProShares Short MSCI Emerging Markets (EUM A-) was one of the constituents on the list of buy on the dip prospects as “emerging markets fell”: following the broader market sell-off, tightening of monetary policies in the U.S. and escalation in the U.S.-China trade war.Check out the ETF Pick of the Month by clicking here .To compare this week’s list with the one published on October 10, click here.ETFs to Buy on the DipPlease note that this list is updated on a monthly basis.Disclosure: No positions at time of writing.

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