Bmo High Yield Us Corporate Bond Hedged ETF Forecast
Weaker technical forecast for Bmo High Yield Us Corporate Bond Hedged as ETF downgraded to Sell Candidate.
(Updated on Jun 27, 2024)
The Bmo High Yield Us Corporate Bond Hedged ETF price fell by -0.361% on the last day (Thursday, 27th Jun 2024) from $11.07 to $11.03. During the last trading day the ETF fluctuated 0.181% from a day low at $11.03 to a day high of $11.05. The price has been going up and down for this period, and there has been a -0.36% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $38.26 thousand.
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 Bmo High Yield Us Corporate Bond Hedged ETF with a 90% probability to be traded between $11.01 and $11.12 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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ZHY.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 High Yield Us Corporate Bond Hedged 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 $11.06 and $11.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.496%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bmo High Yield Us Corporate Bond Hedged ETF
Bmo High Yield Us Corporate Bond Hedged finds support from accumulated volume at $11.02 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0200 between high and low, or 0.181%. For the last week the ETF has had daily average volatility of 0.289%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZHY.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Bmo High Yield Us Corporate Bond Hedged To Cad Index Etf to open at $11.04, and during the day (based on 14 day Average True Range), to move between $10.98 and $11.08, which gives a possible trading interval of +/-$0.0497 (+/-0.45%) up or down from last closing price. If Bmo High Yield Us Corporate Bond Hedged To Cad Index Etf takes out the full calculated possible swing range there will be an estimated 0.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.02 (0.09%) than the resistance at $11.05 (0.18%), 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 High Yield Us Corporate Bond Hedged To Cad Index Etf ETF A Buy?
Bmo High Yield Us Corporate Bond Hedged 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 Buy to a Sell candidate.
Current score: -1.211 Sell Candidate Downgraded
Predicted Opening Price for Bmo High Yield Us Corporate Bond Hedged To Cad Index Etf of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $11.04 ( 0.0604%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZHY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.06 | 0.242% |
| R2 | 11.05 | 0.172% |
| R1 | 11.04 | 0.130% |
| Price | 11.03 | |
| S1 | 11.03 | -0.0088% |
| S2 | 11.02 | -0.0516% |
| S3 | 11.02 | -0.121% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.07 | 0.363% |
| R2 | 11.06 | 0.272% |
| R1 | 11.05 | 0.181% |
| Price | 11.03 | |
| S1 | 11.02 | -0.0907% |
| S2 | 11.01 | -0.181% |
| S3 | 10.96 | -0.635% |
FAQ
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