Horizons U.S. Dollar Currency ETF Forecast

Horizons U.S. Dollar Currency ETF upgraded to Hold/Accumulate.
(Updated on May 17, 2024)

DLR.TO Signals & Forecast

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 Horizons U.S. Dollar Currency ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $13.88 and $13.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Monday, April 08, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Horizons U.S. Dollar Currency ETF

Horizons U.S. Dollar Currency finds support from accumulated volume at $13.77 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 $0.0300 between high and low, or 0.217%. For the last week the ETF has had daily average volatility of 0.217%.

Our recommended stop-loss: $13.28 (-4.13%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (DLR.TO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Horizons U.S. Dollar Currency ETF to open at $13.86, and during the day (based on 14 day Average True Range), to move between $13.80 and $13.91, which gives a possible trading interval of +/-$0.0507 (+/-0.37%) up or down from last closing price. If Horizons U.S. Dollar Currency ETF takes out the full calculated possible swing range there will be an estimated 0.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $13.90 (0.32%) than the support at $13.77 (0.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Horizons U.S. Dollar Currency ETF ETF A Buy?

Horizons U.S. Dollar Currency holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 ETF 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 Horizons U.S. Dollar Currency ETF of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.