Horizons S&P/TSX 60 Index ETF Forecast
Horizons S&P/TSX 60 Index ETF price ended at $57.18 on Thursday, after gaining 0.492%.
(Updated on May 09, 2024)
The Horizons S&P/TSX 60 Index ETF price gained 0.492% on the last trading day (Thursday, 9th May 2024), rising from $56.90 to $57.18. During the last trading day the ETF fluctuated 0.509% from a day low at $56.99 to a day high of $57.28. The price has risen in 8 of the last 10 days and is up by 2.23% over the past 2 weeks. Volume fell on the last day by -54 thousand shares and in total, 146 thousand shares were bought and sold for approximately $8.38 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 lies in the middle of a weak 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 4.17% during the next 3 months and, with a 90% probability hold a price between $57.12 and $60.35 at the end of this 3-month period.
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HXT.TO Signals & Forecast
Mostly positive signals in the chart today. The Horizons S&P/TSX 60 Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $56.50 and $56.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.63%. Further rise is indicated until a new top pivot has been found. 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. The ETF had a Golden Star Signal on Friday, May 03, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Friday, May 03, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Horizons S&P/TSX 60 Index ETF
Horizons S&P/TSX 60 Index finds support from accumulated volume at $57.00 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 $0.290 between high and low, or 0.509%. For the last week the ETF has had daily average volatility of 0.691%.
Our recommended stop-loss: $54.39 (-4.88%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (HXT.TO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Horizons S&P/TSX 60 Index ETF to open at $57.15, and during the day (based on 14 day Average True Range), to move between $56.66 and $57.70, which gives a possible trading interval of +/-$0.519 (+/-0.91%) up or down from last closing price. If Horizons S&P/TSX 60 Index ETF takes out the full calculated possible swing range there will be an estimated 1.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $57.00, some $0.180 (0.31%) from the current price of $57.18, our system finds the risk reward attractive.
Is Horizons S&P/TSX 60 Index ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Horizons S&P/TSX 60 Index ETF to perform well in the short-term.
Current score: 3.637 Buy Candidate Unchanged
Predicted Opening Price for Horizons S&P/TSX 60 Index ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $57.15 ( 0.0525%) | $57.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HXT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.44 | 0.455 % | |
| R2 | 57.33 | 0.261 % | ||
| R1 | 57.26 | 0.141 % | ||
| Current price: | 57.18 | |||
| Support | S1 | 57.04 | -0.246 % | |
| S2 | 56.97 | -0.366 % | ||
| S3 | 56.86 | -0.560 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 57.18 | |||
| Support | S1 | 57.00 | -0.315% | |
| S2 | 55.96 | -2.13% | ||
| S3 | 55.18 | -3.51% |
FAQ
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