Horizons 0-3 Month U.s. T-bill Etf ETF Forecast
Evaluation of Horizons 0-3 Month U.s. T-bill Etf ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Horizons 0-3 Month U.s. T-bill Etf ETF price fell by -0.359% on the last day (Friday, 28th Jun 2024) from $50.15 to $49.97. During the last trading day the ETF fluctuated 0.0400% from a day low at $49.96 to a day high of $49.98. The price has risen in 5 of the last 10 days but is still down by -0.22% for this period. Volume has increased on the last day by 37 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, 42 thousand shares were bought and sold for approximately $2.10 million.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $50.00 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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UBIL-U.TO Signals & Forecast
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. The Horizons 0-3 Month U.s. T-bill Etf 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 $50.11 and $50.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.359%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Horizons 0-3 Month U.s. T-bill Etf ETF
Horizons 0-3 Month U.s. T-bill Etf finds support from accumulated volume at $49.96 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 $0.0200 between high and low, or 0.0400%. For the last week the ETF has had daily average volatility of 0.0220%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UBIL-U.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Horizons 0-3 Month U.s. T-bill Etf to open at $49.97, and during the day (based on 14 day Average True Range), to move between $49.94 and $50.00, which gives a possible trading interval of +/-$0.0316 (+/-0.06%) up or down from last closing price. If Horizons 0-3 Month U.s. T-bill Etf takes out the full calculated possible swing range there will be an estimated 0.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $49.96 (0.02%) than the resistance at $50.00 (0.06%), 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 0-3 Month U.s. T-bill Etf ETF A Buy?
Horizons 0-3 Month U.s. T-bill Etf 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: -3.938 Sell Candidate Downgraded
Predicted Opening Price for Horizons 0-3 Month U.s. T-bill Etf of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
$49.97 ( 0%) | $49.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UBIL-U.TO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 49.99 | 0.0400% |
R2 | 49.98 | 0.0247% |
R1 | 49.98 | 0.0153% |
Price | 49.97 | |
S1 | 49.96 | -0.0153% |
S2 | 49.96 | -0.0247% |
S3 | 49.95 | -0.0400% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 50.12 | 0.300% |
R2 | 50.11 | 0.280% |
R1 | 50.00 | 0.0600% |
Price | 49.97 | |
S1 | 49.96 | -0.0200% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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