Bank of Montreal Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bank of Montreal stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
No changes to the price of Bank of Montreal stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $114.88 to a day high of $114.88. The price has risen in 5 of the last 10 days but is still down by -0.01% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $112.85 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.46% during the next 3 months and, with a 90% probability hold a price between $99.92 and $111.50 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BMO.TO Signals & Forecast
There are mixed signals in the stock today. The Bank of Montreal stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $115.08 and $122.16. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.139%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bank of Montreal stock
Bank of Montreal finds support from accumulated volume at $114.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.564%
Our recommended stop-loss: $107.50 (-6.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (BMO.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Bank of Montreal to open at $114.88, and during the day (based on 14 day Average True Range), to move between $113.42 and $116.34, which gives a possible trading interval of +/-$1.46 (+/-1.27%) up or down from last closing price. If Bank of Montreal takes out the full calculated possible swing range there will be an estimated 2.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $114.86 (0.02%) than the resistance at $119.48 (4.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bank of Montreal stock A Buy?
Bank of Montreal 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Bank of Montreal of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $114.88 ( 0%) | $114.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMO.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 114.88 | - |
| R2 | 114.88 | - |
| R1 | 114.88 | - |
| Price | 114.88 | |
| S1 | 114.88 | - |
| S2 | 114.88 | - |
| S3 | 114.88 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 127.36 | 10.86% |
| R2 | 123.40 | 7.42% |
| R1 | 119.48 | 4.00% |
| Price | 114.88 | |
| S1 | 114.86 | -0.0174% |
| S2 | 114.72 | -0.139% |
| S3 | 0 | - |
BMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 30, 2024 | Jul 30, 2024 | Aug 27, 2024 | $1.55 | 1.34% |
| 2 | Feb 27, 2024 | Apr 29, 2024 | May 28, 2024 | $1.51 | 1.15% |
| 3 | Feb 27, 2024 | Apr 26, 2024 | May 28, 2024 | $1.51 | 1.15% |
| 4 | Dec 01, 2023 | Jan 30, 2024 | Feb 27, 2024 | $1.51 | 1.23% |
| 5 | Dec 01, 2023 | Jan 29, 2024 | Feb 27, 2024 | $1.51 | 1.23% |
FAQ
Click here for our free guide on how to buy Bank of Montreal Stock.
