BMO Premium Yield ETF Forecast
Stronger technical forecast for BMO Premium Yield ETF price after Tuesday trading.
(Updated on May 07, 2024)
The BMO Premium Yield ETF price gained 0.518% on the last trading day (Tuesday, 7th May 2024), rising from $30.87 to $31.03. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.745% from a day low at $30.87 to a day high of $31.10. The price has been going up and down for this period, and there has been a 1.21% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately $194.68 thousand.
The ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $31.14 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect BMO Premium Yield ETF with a 90% probability to be traded between $30.46 and $31.10 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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ZPAY.TO Signals & Forecast
Mostly positive signals in the chart today. The BMO Premium Yield 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 $30.80 and $30.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 1.67%. 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). BMO Premium Yield has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The ETF had a Golden Star Signal on Wednesday, May 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 01, 2023.
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
The ETF had a Golden Star Signal on Wednesday, May 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 01, 2023.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 Wednesday, May 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 01, 2023.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 Premium Yield ETF
BMO Premium Yield finds support from accumulated volume at $30.97 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 $0.230 between high and low, or 0.745%. For the last week the ETF has had daily average volatility of 0.429%.
Our recommended stop-loss: $29.27 (-5.66%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (ZPAY.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect BMO Premium Yield ETF to open at $31.00, and during the day (based on 14 day Average True Range), to move between $30.88 and $31.18, which gives a possible trading interval of +/-$0.145 (+/-0.47%) up or down from last closing price. If BMO Premium Yield ETF takes out the full calculated possible swing range there will be an estimated 0.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.08 (0.16%) than the support at $30.97 (0.19%), 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 Premium Yield 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 Premium Yield ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.430 Buy Candidate Upgraded
Predicted Opening Price for BMO Premium Yield ETF of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $31.00 ( 0.0967%) | $31.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZPAY.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.23 | 0.645 % | |
| R2 | 31.14 | 0.361 % | ||
| R1 | 31.09 | 0.186 % | ||
| Current price: | 31.03 | |||
| Support | S1 | 30.91 | -0.380 % | |
| S2 | 30.86 | -0.555 % | ||
| S3 | 30.77 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.16 | 0.419 % | |
| R2 | 31.09 | 0.193 % | ||
| R1 | 31.08 | 0.161 % | ||
| Current price | 31.03 | |||
| Support | S1 | 30.97 | -0.193% | |
| S2 | 30.90 | -0.419% | ||
| S3 | 30.61 | -1.35% |
ZPAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | May 02, 2024 | $0.160 | 0.522% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 02, 2024 | $0.160 | 0.520% |
| 3 | Feb 27, 2024 | Feb 27, 2024 | Mar 04, 2024 | $0.160 | 0.518% |
| 4 | Jan 29, 2024 | Jan 29, 2024 | Feb 02, 2024 | $0.160 | 0.524% |
| 5 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.160 | 0.535% |
FAQ
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