Horizons Cash Maximizer ETF Forecast
Weaker technical forecast for Horizons Cash Maximizer as ETF downgraded to Sell Candidate.
(Updated on May 08, 2024)
No changes to the price of Horizons Cash Maximizer ETF on the last trading day (Wednesday, 8th May 2024). During the last trading day the ETF fluctuated 0% from a day low at $111.34 to a day high of $111.34. The price has risen in 5 of the last 10 days and is up by 0.04% over the past 2 weeks.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $111.33 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Horizons Cash Maximizer ETF with a 90% probability to be traded between $112.91 and $113.42 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HSAV.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Horizons Cash Maximizer 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 $111.45 and $111.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -0.349%. 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). 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.
Support, Risk & Stop-loss for Horizons Cash Maximizer ETF
Horizons Cash Maximizer finds support from accumulated volume at $111.33 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 0.210%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HSAV.TO) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Horizons Cash Maximizer ETF to open at $111.34, and during the day (based on 14 day Average True Range), to move between $111.13 and $111.55, which gives a possible trading interval of +/-$0.205 (+/-0.18%) up or down from last closing price. If Horizons Cash Maximizer ETF takes out the full calculated possible swing range there will be an estimated 0.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $111.33 (0.01%) than the resistance at $111.42 (0.07%), 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 Cash Maximizer ETF ETF A Buy?
Horizons Cash Maximizer holds several negative signals and is within a narrow and 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. 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: -1.635 Sell Candidate Downgraded
Predicted Opening Price for Horizons Cash Maximizer ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $111.34 ( 0.00000000%) | $111.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HSAV.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.34 | 0.00000000 % | |
| R2 | 111.34 | 0.00000000 % | ||
| R1 | 111.34 | 0.00000000 % | ||
| Current price: | 111.34 | |||
| Support | S1 | 111.34 | 0.00000000 % | |
| S2 | 111.34 | 0.00000000 % | ||
| S3 | 111.34 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.45 | 0.0988 % | |
| R2 | 111.43 | 0.0808 % | ||
| R1 | 111.42 | 0.0719 % | ||
| Current price | 111.34 | |||
| Support | S1 | 111.33 | -0.0090% | |
| S2 | 111.25 | -0.0808% | ||
| S3 | 110.25 | -0.98% |
FAQ
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