That’s according to the technical analyst team at Investing Haven, who wrote about the unique ETF earlier this week:
We received an alert from our researchers that the gaming sector ETF could be the next big thing. BJK – VanEck Vectors Gaming ETF launched on 22nd Jan 2008, set up with the intention to track the overall performance of global companies involved in casinos and casino hotels, sports betting, lottery services, gaming services, gaming technology and gaming equipments.
From a technical perspective, the analyst believes BJK’s next stop on its bullish run could be significantly higher than current levels:
A weekly chart of BJk shows that it has the potential of reaching previous highs at 55 within the next two years. Bear in mind that if a reversal happens, it could retrace back to 37 although the former has higher probability.
That $55 target implies 25% gains from current levels, so this ETF is definitely one to watch as we approach the end of 2017.
The VanEck Vectors Gaming ETF (BJK) closed at $43.99 on Friday, down $-0.23 (-0.52%). Year-to-date, BJK has gained 29.99%, versus a 16.42% rise in the benchmark S&P 500 index during the same period.