Horizons Big Data & Hardware Index ETF Forecast
Evaluation of Horizons Big Data & Hardware Index ETF downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Horizons Big Data & Hardware Index ETF price fell by -2.76% on the last day (Friday, 21st Jun 2024) from $31.20 to $30.34. During the last trading day the ETF fluctuated 1.82% from a day low at $30.30 to a day high of $30.85. The price has risen in 6 of the last 10 days and is up by 6.23% over the past 2 weeks. Volume has increased on the last day by 3 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, 5 thousand shares were bought and sold for approximately $146.03 thousand.
The ETF lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 12.44% during the next 3 months and, with a 90% probability hold a price between $29.46 and $35.33 at the end of this 3-month period.
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HBGD.TO Signals & Forecast
The Horizons Big Data & Hardware Index 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 $30.83. On a fall, the ETF will find some support from the long-term average at approximately $27.86. 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. 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 Wednesday, June 19, 2024, and so far it has fallen -3.10%. Further fall is indicated until a new bottom pivot has been found. Horizons Big Data & Hardware Index 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".
Support, Risk & Stop-loss for Horizons Big Data & Hardware Index ETF
Horizons Big Data & Hardware Index finds support from accumulated volume at $29.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.550 between high and low, or 1.82%. For the last week, the ETF has had daily average volatility of 1.81%.
Our recommended stop-loss: $29.28 (-3.49%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (HBGD.TO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Horizons Big Data & Hardware Index ETF to open at $30.50, and during the day (based on 14 day Average True Range), to move between $29.76 and $30.92, which gives a possible trading interval of +/-$0.580 (+/-1.91%) up or down from last closing price. If Horizons Big Data & Hardware Index ETF takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.95 (1.29%) than the resistance at $31.20 (2.83%), 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 Big Data & Hardware Index ETF ETF A Buy?
Horizons Big Data & Hardware Index 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.566 Hold/Accumulate Downgraded
Predicted Opening Price for Horizons Big Data & Hardware Index ETF of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$30.50 ( 0.516%) | $30.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBGD.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 31.05 | 2.33% |
R2 | 30.84 | 1.64% |
R1 | 30.71 | 1.21% |
Price | 30.34 | |
S1 | 30.29 | -0.176% |
S2 | 30.16 | -0.604% |
S3 | 29.95 | -1.30% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 31.25 | 3.00% |
R2 | 31.23 | 2.93% |
R1 | 31.20 | 2.83% |
Price | 30.34 | |
S1 | 29.95 | -1.29% |
S2 | 26.80 | -11.67% |
S3 | 25.97 | -14.40% |
HBGD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.172 | 0.599% |
2 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | $0.143 | 1.21% |
3 | Sep 28, 2021 | Sep 28, 2021 | Sep 28, 2021 | $0.199 | 0.82% |
4 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | $0.0282 | 0.338% |
5 | Dec 07, 2020 | Dec 30, 2020 | Jan 13, 2021 | $0.0187 | 0.267% |
FAQ
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