Hamilton Canadian Financials Yield ETF Forecast

Hamilton Canadian Financials Yield ETF price up 0.228% on Friday
(Updated on Jun 21, 2024)

HMAX.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.228%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hamilton Canadian Financials Yield ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.24 and $13.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Hamilton Canadian Financials Yield ETF

Hamilton Canadian Financials Yield finds support from accumulated volume at $13.20 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 $0.0900 between high and low, or 0.686%. For the last week the ETF has had daily average volatility of 0.744%.

Hamilton Canadian Financials Yield is oversold on RSI14 (19). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HMAX.TO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Hamilton Canadian Financials Yield Maximizer Etf to open at $13.18, and during the day (based on 14 day Average True Range), to move between $13.09 and $13.33, which gives a possible trading interval of +/-$0.124 (+/-0.94%) up or down from last closing price. If Hamilton Canadian Financials Yield Maximizer Etf takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.20 (0.08%) than the resistance at $13.53 (2.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hamilton Canadian Financials Yield Maximizer Etf ETF A Buy?

Hamilton Canadian Financials Yield holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.

Current score: -2.590 Sell Candidate Unchanged

Predicted Opening Price for Hamilton Canadian Financials Yield Maximizer Etf of Monday, June 24, 2024

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