BMO Low Volatility US Equity (CAD) ETF Forecast

BMO Low Volatility US Equity (CAD) ETF upgraded to Buy Candidate.
(Updated on May 31, 2024)

ZLU.TO Signals & Forecast

The BMO Low Volatility US Equity (CAD) 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 $49.16 and $49.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.71%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for BMO Low Volatility US Equity (CAD) ETF

BMO Low Volatility US Equity (CAD) finds support from accumulated volume at $49.15 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 $0.470 between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 0.606%

Our recommended stop-loss: $46.82 (-5.27%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (ZLU.TO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect BMO Low Volatility US Equity ETF (CAD) to open at $49.30, and during the day (based on 14 day Average True Range), to move between $49.07 and $49.77, which gives a possible trading interval of +/-$0.347 (+/-0.70%) up or down from last closing price. If BMO Low Volatility US Equity ETF (CAD) takes out the full calculated possible swing range there will be an estimated 1.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $49.15 (0.55%) than the resistance at $49.70 (0.57%), 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 US Equity ETF (CAD) 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 Low Volatility US Equity (CAD) 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: 2.251 Buy Candidate Upgraded

Predicted Opening Price for BMO Low Volatility US Equity ETF (CAD) of Monday, June 3, 2024

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