BNY Mellon Core Bond ETF Forecast
BNY Mellon Core Bond ETF price ended at $41.33 on Friday, after losing 0.253%.
(Updated on May 17, 2024)
The BNY Mellon Core Bond ETF price fell by -0.253% on the last day (Friday, 17th May 2024) from $41.43 to $41.33. During the last trading day the ETF fluctuated 0.210% from a day low at $41.31 to a day high of $41.40. The price has risen in 6 of the last 10 days and is up by 0.63% over the past 2 weeks. Volume has increased on the last day by 40 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 107 thousand shares were bought and sold for approximately $4.42 million.
The ETF lies the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $41.47 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -2.17% during the next 3 months and, with a 90% probability hold a price between $39.40 and $40.57 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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BKAG Signals & Forecast
The BNY Mellon Core Bond ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.27 and $41.04. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.422%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for BNY Mellon Core Bond ETF
BNY Mellon Core Bond finds support from accumulated volume at $41.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0866 between high and low, or 0.210%. For the last week the ETF has had daily average volatility of 0.207%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BKAG) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BNY Mellon Core Bond ETF to open at $41.34, and during the day (based on 14 day Average True Range), to move between $41.16 and $41.49, which gives a possible trading interval of +/-$0.164 (+/-0.40%) up or down from last closing price. If BNY Mellon Core Bond ETF takes out the full calculated possible swing range there will be an estimated 0.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.28 (0.11%) than the resistance at $41.45 (0.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BNY Mellon Core Bond ETF ETF A Buy?
BNY Mellon Core Bond holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -2.434 Sell Candidate Unchanged
Predicted Opening Price for BNY Mellon Core Bond ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $41.34 ( 0.0457%) | $41.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKAG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.43 | 0.255 % | |
| R2 | 41.40 | 0.175 % | ||
| R1 | 41.38 | 0.126 % | ||
| Current price: | 41.33 | |||
| Support | S1 | 41.31 | -0.0344 % | |
| S2 | 41.29 | -0.0839 % | ||
| S3 | 41.26 | -0.164 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.69 | 0.88 % | |
| R2 | 41.58 | 0.617 % | ||
| R1 | 41.45 | 0.302 % | ||
| Current price | 41.33 | |||
| Support | S1 | 41.28 | -0.109% | |
| S2 | 40.84 | -1.17% | ||
| S3 | 40.83 | -1.20% |
BKAG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.145 | 0.352% |
| 2 | Feb 29, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.148 | 0.358% |
| 3 | Jan 31, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.146 | 0.348% |
| 4 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.0880 | 0.206% |
| 5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.131 | 0.317% |
FAQ
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