BMO Laddered Preferred Share Index ETF Forecast

Red day on Friday for BMO Laddered Preferred Share Index ETF after losing 0.0999%
(Updated on Apr 26, 2024)

ZPR.TO Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.299%. 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 Laddered Preferred Share Index 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 BMO Laddered Preferred Share Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $9.97 and $9.91. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for BMO Laddered Preferred Share Index ETF

BMO Laddered Preferred Share Index finds support from accumulated volume at $9.99 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 $0.0700 between high and low, or 0.704%. For the last week the ETF has had daily average volatility of 0.83%.

Our recommended stop-loss: $9.70 (-3.01%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (ZPR.TO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect BMO Laddered Preferred Share Index ETF to open at $9.98, and during the day (based on 14 day Average True Range), to move between $9.93 and $10.07, which gives a possible trading interval of +/-$0.0684 (+/-0.68%) up or down from last closing price. If BMO Laddered Preferred Share Index ETF takes out the full calculated possible swing range there will be an estimated 1.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.01 (0.10%) than the support at $9.99 (0.10%), 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 Laddered Preferred Share Index ETF ETF A Buy?

BMO Laddered Preferred Share Index 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: -0.440 Hold/Accumulate Unchanged

Predicted Opening Price for BMO Laddered Preferred Share Index ETF of Monday, April 29, 2024

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