Horizons Balanced TRI Portfolio ETF Forecast

Red day on Friday for Horizons Balanced TRI Portfolio
(Updated on May 31, 2024)

HBAL.TO Signals & Forecast

The Horizons Balanced TRI Portfolio ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $14.62. On a fall, the ETF will find some support from the long-term average at approximately $14.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the ETF should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 21, 2024, and so far it has fallen -1.09%. 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).

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

Horizons Balanced TRI Portfolio finds support from accumulated volume at $14.55 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 $0.0800 between high and low, or 0.552%. For the last week the ETF has had daily average volatility of 0.289%.

Our recommended stop-loss: $13.95 (-4.18%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)

Trading Expectations (HBAL.TO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Horizons Balanced TRI ETF Portfolio to open at $14.53, and during the day (based on 14 day Average True Range), to move between $14.51 and $14.61, which gives a possible trading interval of +/-$0.0515 (+/-0.35%) 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 0.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.55 (0.07%) than the resistance at $14.69 (0.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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.

Current score: 1.192 Buy Candidate Unchanged

Predicted Opening Price for Horizons Balanced TRI ETF Portfolio of Monday, June 3, 2024

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