BMO Premium Yield ETF Forecast

BMO Premium Yield ETF downgraded to Sell Candidate
(Updated on May 30, 2024)

ZPAY.TO Signals & Forecast

There are few to no technical positive signals at the moment. The BMO Premium Yield 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 $31.12 and $30.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -1.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). BMO Premium Yield 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 ETF had a Golden Star Signal on Tuesday, April 09, 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 $30.66 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 $0.120 between high and low, or 0.390%. For the last week the ETF has had daily average volatility of 0.343%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ZPAY.TO) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect BMO Premium Yield ETF to open at $30.82, and during the day (based on 14 day Average True Range), to move between $30.65 and $30.93, which gives a possible trading interval of +/-$0.143 (+/-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 0.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.80 (0.03%) than the support at $30.66 (0.42%), 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?

BMO Premium Yield holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.322 Sell Candidate Downgraded

Predicted Opening Price for BMO Premium Yield ETF of Friday, May 31, 2024

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