Horizons Cash Maximizer ETF Forecast
Horizons Cash Maximizer ETF downgraded to Hold/Accumulate
(Updated on May 31, 2024)
The Horizons Cash Maximizer ETF price gained 0.0268% on the last trading day (Friday, 31st May 2024), rising from $111.75 to $111.78. During the last trading day the ETF fluctuated 0.116% from a day low at $111.70 to a day high of $111.83. The price has risen in 7 of the last 10 days and is up by 0.19% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 27 thousand shares were bought and sold for approximately $3.04 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Horizons Cash Maximizer ETF with a 90% probability to be traded between $112.65 and $113.14 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
The Horizons Cash Maximizer 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 $111.79. On a fall, the ETF will find some support from the long-term average at approximately $111.57. 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). 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.152%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Horizons Cash Maximizer ETF
Horizons Cash Maximizer finds support from accumulated volume at $111.60 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 $0.130 between high and low, or 0.116%. For the last week the ETF has had daily average volatility of 0.124%.
Our recommended stop-loss: $105.85 (-5.31%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (HSAV.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Horizons Cash Maximizer ETF to open at $111.77, and during the day (based on 14 day Average True Range), to move between $111.60 and $111.96, which gives a possible trading interval of +/-$0.184 (+/-0.16%) 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 0.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $111.83 (0.04%) than the support at $111.60 (0.16%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Horizons Cash Maximizer ETF ETF A Buy?
Horizons Cash Maximizer 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: 0.765 Hold/Accumulate Downgraded
Predicted Opening Price for Horizons Cash Maximizer ETF of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $111.77 ( 0.0089%) | $111.78 |
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 | 111.90 | 0.107 % | |
| R2 | 111.85 | 0.0629 % | ||
| R1 | 111.82 | 0.0355 % | ||
| Current price: | 111.78 | |||
| Support | S1 | 111.72 | -0.0534 % | |
| S2 | 111.69 | -0.0808 % | ||
| S3 | 111.64 | -0.125 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.95 | 0.152 % | |
| R2 | 111.85 | 0.0626 % | ||
| R1 | 111.83 | 0.0447 % | ||
| Current price | 111.78 | |||
| Support | S1 | 111.60 | -0.161% | |
| S2 | 111.43 | -0.313% | ||
| S3 | 111.25 | -0.474% |
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