Bank Of Montreal Stock Forecast
Bank Of Montreal stock price up 1.49% on Friday
(Updated on May 03, 2024)
The Bank Of Montreal stock price gained 1.49% on the last trading day (Friday, 3rd May 2024), rising from $89.89 to $91.23. 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 stock fluctuated 1.18% from a day low at $90.49 to a day high of $91.56. The price has been going up and down for this period, and there has been a -0.99% loss for the last 2 weeks. Volume fell on the last day by -59 thousand shares and in total, 464 thousand shares were bought and sold for approximately $42.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bank Of Montreal stock with a 90% probability to be traded between $89.20 and $98.19 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
BMO Signals & Forecast
There are mixed signals in the stock today. The Bank Of Montreal stock 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 stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $94.05. On a fall, the stock will find some support from the short-term average at $90.56. 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). A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.14%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Bank Of Montreal stock
Bank Of Montreal finds support from accumulated volume at $90.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.07 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: $86.75 (-4.91%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (BMO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bank Of Montreal to open at $91.09, and during the day (based on 14 day Average True Range), to move between $89.65 and $92.81, which gives a possible trading interval of +/-$1.58 (+/-1.73%) up or down from last closing price. If Bank Of Montreal takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.91 (0.35%) than the resistance at $92.72 (1.63%), 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.
Current score: 0.171 Hold/Accumulate Unchanged
Predicted Opening Price for Bank Of Montreal of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$91.09 ( 0.150%) | $91.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 92.16 | 1.02 % | |
R2 | 91.75 | 0.575 % | ||
R1 | 91.50 | 0.298 % | ||
Current price: | 91.23 | |||
Support | S1 | 90.68 | -0.598 % | |
S2 | 90.43 | -0.87 % | ||
S3 | 90.02 | -1.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 94.81 | 3.92 % | |
R2 | 93.88 | 2.90 % | ||
R1 | 92.72 | 1.63 % | ||
Current price | 91.23 | |||
Support | S1 | 90.91 | -0.351% | |
S2 | 90.58 | -0.712% | ||
S3 | 90.39 | -0.92% |
BMO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Apr 26, 2024 | May 28, 2024 | $1.11 | 1.22% |
2 | Jan 29, 2024 | Jan 29, 2024 | Jan 29, 2024 | $0 | 0% |
3 | Aug 29, 2023 | Oct 27, 2023 | Nov 28, 2023 | $1.09 | 1.36% |
4 | May 24, 2023 | Jul 27, 2023 | Aug 28, 2023 | $1.11 | 1.33% |
5 | Feb 28, 2023 | Apr 27, 2023 | May 26, 2023 | $1.05 | 1.24% |
FAQ
Click here for our free guide on how to buy Bank Of Montreal Stock.