BMO Equal Weight US Banks Hedged to CAD ETF Forecast
Green day on Friday for BMO Equal Weight US Banks Hedged to CAD ETF after gaining 0.511%
(Updated on May 10, 2024)
The BMO Equal Weight US Banks Hedged to CAD ETF price gained 0.511% on the last trading day (Friday, 10th May 2024), rising from $27.40 to $27.54. 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 0.255% from a day low at $27.50 to a day high of $27.57. The price has risen in 7 of the last 10 days and is up by 2.8% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 8 thousand shares were bought and sold for approximately $224.51 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.45% during the next 3 months and, with a 90% probability hold a price between $27.87 and $30.74 at the end of this 3-month period.
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ZUB.TO Signals & Forecast
The BMO Equal Weight US Banks Hedged to CAD 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 $27.12 and $26.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.90%. 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. 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 Equal Weight US Banks Hedged to CAD ETF
BMO Equal Weight US Banks Hedged to CAD finds support from accumulated volume at $27.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.0700 between high and low, or 0.255%. For the last week the ETF has had daily average volatility of 0.98%.
Our recommended stop-loss: $26.26 (-4.66%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (ZUB.TO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect BMO Equal Weight US Banks Hedged to CAD Index ETF to open at $27.54, and during the day (based on 14 day Average True Range), to move between $27.15 and $27.93, which gives a possible trading interval of +/-$0.390 (+/-1.41%) up or down from last closing price. If BMO Equal Weight US Banks Hedged to CAD Index ETF takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $27.05, some $0.490 (1.78%) from the current price of $27.54, our system finds the risk reward attractive.
Is BMO Equal Weight US Banks Hedged to CAD Index ETF ETF A Buy?
BMO Equal Weight US Banks Hedged to CAD holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.504 Strong Buy Candidate Unchanged
Predicted Opening Price for BMO Equal Weight US Banks Hedged to CAD Index ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $27.54 ( 0.0121%) | $27.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZUB.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.61 | 0.242 % | |
| R2 | 27.58 | 0.145 % | ||
| R1 | 27.56 | 0.0850 % | ||
| Current price: | 27.54 | |||
| Support | S1 | 27.51 | -0.109 % | |
| S2 | 27.49 | -0.169 % | ||
| S3 | 27.47 | -0.266 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 27.54 | |||
| Support | S1 | 27.05 | -1.78% | |
| S2 | 26.98 | -2.03% | ||
| S3 | 26.58 | -3.49% |
ZUB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 02, 2024 | $0.180 | 0.677% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.180 | 0.727% |
| 3 | Sep 27, 2023 | Sep 27, 2023 | Sep 27, 2023 | $0.180 | 0.90% |
| 4 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | $0.180 | 0.89% |
| 5 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | $0.180 | 0.85% |
FAQ
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