Evolve Canadian Banks And Lifecos ETF Forecast
Green day on Tuesday for Evolve Canadian Banks And Lifecos
(Updated on Jun 25, 2024)
The Evolve Canadian Banks And Lifecos ETF price gained 0.358% on the last trading day (Tuesday, 25th Jun 2024), rising from $6.98 to $7.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.01% from a day low at $6.94 to a day high of $7.01. The price has fallen in 6 of the last 10 days and is down by -1.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 thousand more shares were traded than the day before. In total, 246 thousand shares were bought and sold for approximately $1.72 million.
Given the current short-term trend, the ETF is expected to fall -7.66% during the next 3 months and, with a 90% probability hold a price between $6.26 and $6.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BANK.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 2.19%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Evolve Canadian Banks And Lifecos ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $7.13. On a fall, the ETF will find some support from the short-term average at $6.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Evolve Canadian Banks And Lifecos ETF
Evolve Canadian Banks And Lifecos finds support from accumulated volume at $6.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.0700 (1.01%) between high and low. For the last week, the ETF has had daily average volatility of 1.11%.
Our recommended stop-loss: $6.56 (-6.25%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (BANK.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Evolve Canadian Banks And Lifecos Enhanced Yield Index Fund to open at $6.98, and during the day (based on 14 day Average True Range), to move between $6.91 and $7.09, which gives a possible trading interval of +/-$0.0942 (+/-1.35%) up or down from last closing price. If Evolve Canadian Banks And Lifecos Enhanced Yield Index Fund takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.94 (0.86%) than the resistance at $7.10 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Evolve Canadian Banks And Lifecos Enhanced Yield Index Fund ETF A Buy?
Evolve Canadian Banks And Lifecos holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.500 Hold/Accumulate Unchanged
Predicted Opening Price for Evolve Canadian Banks And Lifecos Enhanced Yield Index Fund of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.98 ( 0.238%) | $7.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BANK.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.05 | 0.762% |
| R2 | 7.03 | 0.380% |
| R1 | 7.01 | 0.144% |
| Price | 7.00 | |
| S1 | 6.96 | -0.620% |
| S2 | 6.94 | -0.86% |
| S3 | 6.91 | -1.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.35 | 5.00% |
| R2 | 7.20 | 2.86% |
| R1 | 7.10 | 1.43% |
| Price | 7.00 | |
| S1 | 6.94 | -0.86% |
| S2 | 6.90 | -1.43% |
| S3 | 6.89 | -1.57% |
FAQ
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