BMO Canadian Dividend ETF Forecast

BMO Canadian Dividend ETF price down 0.251% on Wednesday
(Updated on Jun 26, 2024)

ZDV.TO Signals & Forecast

There are mixed signals in the ETF today. The BMO Canadian Dividend ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $20.26. On a fall, the ETF will find some support from the short-term average at $19.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). BMO Canadian Dividend gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.12%. Further rise is indicated until a new top pivot has been found.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should go up by 9.67% to $21.76 within 45 trading days since signal was issued (Friday, August 23, 2024).

Support, Risk & Stop-loss for BMO Canadian Dividend ETF

BMO Canadian Dividend finds support from accumulated volume at $19.82 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 $0.150 between high and low, or 0.760%. For the last week the ETF has had daily average volatility of 0.783%.

Our recommended stop-loss: $18.79 (-5.31%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (ZDV.TO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect BMO Canadian Dividend ETF to open at $19.82, and during the day (based on 14 day Average True Range), to move between $19.67 and $20.01, which gives a possible trading interval of +/-$0.170 (+/-0.85%) up or down from last closing price. If BMO Canadian Dividend ETF takes out the full calculated possible swing range there will be an estimated 1.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $19.82 (0.10%) than the resistance at $19.89 (0.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BMO Canadian Dividend ETF ETF A Buy?

BMO Canadian Dividend 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.

Current score: -0.988 Hold/Accumulate Unchanged

Predicted Opening Price for BMO Canadian Dividend ETF of Thursday, June 27, 2024

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