Horizons Balanced TRI Portfolio ETF Forecast

Stronger technical forecast for Horizons Balanced TRI Portfolio ETF price after Wednesday trading.
(Updated on May 08, 2024)

HBAL.TO Signals & Forecast

The Horizons Balanced TRI Portfolio 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 $14.40 and $14.38. 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 Tuesday, May 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for Horizons Balanced TRI Portfolio ETF

Horizons Balanced TRI Portfolio finds support from accumulated volume at $14.38 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 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 ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.263%

The Horizons Balanced TRI Portfolio ETF is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some ETFS may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the ETF manages to break the trend before that occurs.

Our recommended stop-loss: $14.07 (-3.46%) (This ETF has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (HBAL.TO) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Horizons Balanced TRI ETF Portfolio to open at $14.57, and during the day (based on 14 day Average True Range), to move between $14.51 and $14.63, which gives a possible trading interval of +/-$0.0631 (+/-0.43%) up or down from last closing price. If Horizons Balanced TRI ETF Portfolio takes out the full calculated possible swing range there will be an estimated 0.87% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $14.38, some $0.190 (1.30%) from the current price of $14.57, our system finds the risk reward attractive.

Is Horizons Balanced TRI ETF Portfolio ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Horizons Balanced TRI Portfolio ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.459 Buy Candidate Upgraded

Predicted Opening Price for Horizons Balanced TRI ETF Portfolio of Thursday, May 9, 2024

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