BMO Floating Rate High Yield ETF Forecast

BMO Floating Rate High Yield ETF price ended at $14.66 on Friday, after losing 0.0682%.
(Updated on Jun 28, 2024)

ZFH.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 BMO Floating Rate High Yield ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.73 and $14.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -1.48%. Further fall is indicated until a new bottom pivot has been found. BMO Floating Rate High Yield 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". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Thursday, May 02, 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 BMO Floating Rate High Yield ETF

BMO Floating Rate High Yield finds support from accumulated volume at $14.61 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 $0.0100 between high and low, or 0.0683%. For the last week the ETF has had daily average volatility of 0.272%.

Our recommended stop-loss: $13.69 (-6.65%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (ZFH.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect BMO Floating Rate High Yield ETF to open at $14.66, and during the day (based on 14 day Average True Range), to move between $14.61 and $14.71, which gives a possible trading interval of +/-$0.0503 (+/-0.34%) up or down from last closing price. If BMO Floating Rate High Yield ETF takes out the full calculated possible swing range there will be an estimated 0.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.70 (0.27%) than the support at $14.61 (0.34%), 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 BMO Floating Rate High Yield ETF ETF A Buy?

BMO Floating Rate High Yield holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.069 Hold/Accumulate Unchanged

Predicted Opening Price for BMO Floating Rate High Yield ETF of Tuesday, July 2, 2024

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