Bmo Esg Us Corporate Bond Hedged To Cad ETF Forecast
Bmo Esg Us Corporate Bond Hedged To Cad ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Bmo Esg Us Corporate Bond Hedged To Cad ETF price fell by -0.0835% on the last day (Friday, 28th Jun 2024) from $23.95 to $23.93. During the last trading day the ETF fluctuated 0.293% from a day low at $23.92 to a day high of $23.99. The price has been going up and down for this period, and there has been a -1.81% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 2 thousand shares were bought and sold for approximately $35.90 thousand.
The ETF lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.88 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 2.28% during the next 3 months and, with a 90% probability hold a price between $24.42 and $25.09 at the end of this 3-month period.
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ESGF.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Bmo Esg Us Corporate Bond Hedged To Cad 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 $24.21 and $24.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -1.81%. 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). Bmo Esg Us Corporate Bond Hedged To Cad gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bmo Esg Us Corporate Bond Hedged To Cad ETF
Bmo Esg Us Corporate Bond Hedged To Cad finds support from accumulated volume at $23.91 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 $0.0700 between high and low, or 0.293%. For the last week the ETF has had daily average volatility of 0.0585%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESGF.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Bmo Esg Us Corporate Bond Hedged To Cad Index Etf to open at $23.95, and during the day (based on 14 day Average True Range), to move between $23.83 and $24.03, which gives a possible trading interval of +/-$0.0965 (+/-0.40%) up or down from last closing price. If Bmo Esg Us Corporate Bond Hedged To Cad Index Etf takes out the full calculated possible swing range there will be an estimated 0.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.91 (0.08%) than the resistance at $23.98 (0.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bmo Esg Us Corporate Bond Hedged To Cad Index Etf ETF A Buy?
The Bmo Esg Us Corporate Bond Hedged To Cad ETF holds several negative signals and despite the positive trend, we believe Bmo Esg Us Corporate Bond Hedged To Cad will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.757 Sell Candidate Downgraded
Predicted Opening Price for Bmo Esg Us Corporate Bond Hedged To Cad Index Etf of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $23.95 ( 0.0696%) | $23.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESGF.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.02 | 0.362% |
| R2 | 23.99 | 0.250% |
| R1 | 23.97 | 0.181% |
| Price | 23.93 | |
| S1 | 23.92 | -0.0421% |
| S2 | 23.90 | -0.111% |
| S3 | 23.88 | -0.223% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.32 | 1.63% |
| R2 | 24.25 | 1.34% |
| R1 | 23.98 | 0.209% |
| Price | 23.93 | |
| S1 | 23.91 | -0.0836% |
| S2 | 23.90 | -0.125% |
| S3 | 23.76 | -0.710% |
FAQ
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