Bmo Monthly Income Etf ETF Forecast
Bmo Monthly Income Etf ETF price down 0.181% on Friday
(Updated on Jun 28, 2024)
The Bmo Monthly Income Etf ETF price fell by -0.181% on the last day (Friday, 28th Jun 2024) from $16.53 to $16.50. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.485% from a day low at $16.50 to a day high of $16.58. The price has fallen in 6 of the last 10 days and is down by -0.24% for this period. 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 -12 thousand shares and in total, 3 thousand shares were bought and sold for approximately $45.13 thousand.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $16.41 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Bmo Monthly Income Etf ETF with a 90% probability to be traded between $16.72 and $17.21 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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ZMI.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.671%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bmo Monthly Income Etf 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 $16.59 and $16.59. A break-up above any of these levels will issue buy signals. 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. The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, September 12, 2023 in the long-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 Monthly Income Etf ETF
Bmo Monthly Income Etf finds support from accumulated volume at $16.42 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 $0.0800 between high and low, or 0.485%. For the last week the ETF has had daily average volatility of 0.520%
Our recommended stop-loss: $15.49 (-6.11%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (ZMI.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Bmo Monthly Income Etf to open at $16.53, and during the day (based on 14 day Average True Range), to move between $16.42 and $16.58, which gives a possible trading interval of +/-$0.0761 (+/-0.46%) up or down from last closing price. If Bmo Monthly Income Etf takes out the full calculated possible swing range there will be an estimated 0.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.55 (0.30%) than the support at $16.42 (0.48%), 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 Monthly Income Etf ETF A Buy?
Bmo Monthly Income Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.842 Hold/Accumulate Unchanged
Predicted Opening Price for Bmo Monthly Income Etf of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $16.53 ( 0.162%) | $16.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZMI.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.61 | 0.646% |
| R2 | 16.58 | 0.461% |
| R1 | 16.56 | 0.347% |
| Price | 16.50 | |
| S1 | 16.50 | -0.0236% |
| S2 | 16.48 | -0.138% |
| S3 | 16.45 | -0.323% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.61 | 0.667% |
| R2 | 16.59 | 0.545% |
| R1 | 16.55 | 0.303% |
| Price | 16.50 | |
| S1 | 16.42 | -0.485% |
| S2 | 16.34 | -0.97% |
| S3 | 16.24 | -1.58% |
FAQ
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