BMO Low Volatility Canadian Equity ETF Forecast
Green day on Thursday for BMO Low Volatility Canadian Equity
(Updated on May 02, 2024)
The BMO Low Volatility Canadian Equity ETF price gained 0.87% on the last trading day (Thursday, 2nd May 2024), rising from $42.73 to $43.10. During the last trading day the ETF fluctuated 0.93% from a day low at $42.79 to a day high of $43.19. The price has risen in 7 of the last 10 days and is up by 1.84% over the past 2 weeks. Volume fell on the last day by -45 thousand shares and in total, 55 thousand shares were bought and sold for approximately $2.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Low Volatility Canadian Equity ETF with a 90% probability to be traded between $42.40 and $44.13 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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ZLB.TO Signals & Forecast
Mostly positive signals in the chart today. The BMO Low Volatility Canadian Equity ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $42.77 and $42.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for BMO Low Volatility Canadian Equity ETF
BMO Low Volatility Canadian Equity finds support from accumulated volume at $42.92 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 $0.400 between high and low, or 0.93%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: $41.02 (-4.83%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ZLB.TO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect BMO Low Volatility Canadian Equity ETF to open at $43.03, and during the day (based on 14 day Average True Range), to move between $42.75 and $43.45, which gives a possible trading interval of +/-$0.352 (+/-0.82%) up or down from last closing price. If BMO Low Volatility Canadian Equity ETF takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.92 (0.42%) than the resistance at $43.29 (0.44%), 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 Low Volatility Canadian Equity ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for BMO Low Volatility Canadian Equity ETF to perform well in the short-term period.
Current score: 2.720 Buy Candidate Unchanged
Predicted Opening Price for BMO Low Volatility Canadian Equity ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $43.03 ( 0.170%) | $43.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZLB.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.43 | 0.758 % | |
| R2 | 43.27 | 0.403 % | ||
| R1 | 43.18 | 0.184 % | ||
| Current price: | 43.10 | |||
| Support | S1 | 42.87 | -0.525 % | |
| S2 | 42.78 | -0.744 % | ||
| S3 | 42.63 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.39 | 0.673 % | |
| R2 | 43.32 | 0.510 % | ||
| R1 | 43.29 | 0.441 % | ||
| Current price | 43.10 | |||
| Support | S1 | 42.92 | -0.418% | |
| S2 | 42.73 | -0.86% | ||
| S3 | 42.61 | -1.14% |
ZLB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 02, 2024 | $0.280 | 0.652% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.280 | 0.671% |
| 3 | Sep 27, 2023 | Sep 27, 2023 | Sep 27, 2023 | $0.280 | 0.724% |
| 4 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | $0.280 | 0.685% |
| 5 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | $0.280 | 0.677% |
FAQ
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