BMO Junior Gold Index ETF Forecast
Stronger technical forecast for BMO Junior Gold Index ETF price after Friday trading.
(Updated on May 31, 2024)
The BMO Junior Gold Index ETF price fell by -1.38% on the last day (Friday, 31st May 2024) from $82.08 to $80.95. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 2.35% from a day low at $80.95 to a day high of $82.85. The price has been going up and down for this period, and there has been a 0.43% gain for the last 2 weeks. Volume has increased on the last day by 500 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, 645 shares were bought and sold for approximately $52.21 thousand.
The ETF lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $80.22 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 27.01% during the next 3 months and, with a 90% probability hold a price between $101.89 and $110.02 at the end of this 3-month period.
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ZJG.TO Signals & Forecast
The BMO Junior Gold Index ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $81.61. On a fall, the ETF will find some support from the long-term average at approximately $77.96. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -3.92%. Further fall is indicated until a new bottom pivot has been found. BMO Junior Gold Index 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.
Support, Risk & Stop-loss for BMO Junior Gold Index ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $75.90 and $75.17. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, BMO Junior Gold Index finds support just below today's level at $75.90. If this is broken, then the next support from accumulated volume will be at $75.17 and $73.10.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.90 between high and low, or 2.35%. For the last week, the ETF has had daily average volatility of 0.576%.
Our recommended stop-loss: $78.48 (-3.06%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (ZJG.TO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect BMO Junior Gold Index ETF to open at $81.58, and during the day (based on 14 day Average True Range), to move between $79.77 and $82.13, which gives a possible trading interval of +/-$1.18 (+/-1.46%) up or down from last closing price. If BMO Junior Gold Index ETF takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $82.83 (2.32%) than the support at $75.90 (6.24%), 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 Junior Gold 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 BMO Junior Gold Index ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.099 Buy Candidate Upgraded
Predicted Opening Price for BMO Junior Gold Index ETF of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$81.58 ( 0.782%) | $80.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZJG.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 83.48 | 3.13 % | |
R2 | 82.76 | 2.23 % | ||
R1 | 82.31 | 1.68 % | ||
Current price: | 80.95 | |||
Support | S1 | 80.86 | -0.114 % | |
S2 | 80.41 | -0.668 % | ||
S3 | 79.68 | -1.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.25 | 4.08 % | |
R2 | 83.20 | 2.78 % | ||
R1 | 82.83 | 2.32 % | ||
Current price | 80.95 | |||
Support | S1 | 75.90 | -6.24% | |
S2 | 75.17 | -7.14% | ||
S3 | 73.10 | -9.70% |
ZJG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.601 | 0.86% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | $0.530 | 0.83% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | $0.230 | 0.358% |
FAQ
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