BMO US Preferred Share Index ETF Forecast

BMO US Preferred Share Index ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

ZUP.TO Signals & Forecast

There are few to no technical positive signals at the moment. The BMO US Preferred Share Index 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 $20.76 and $20.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -1.05%. 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 US 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 very low volume increases the risk and reduces the other technical signals issued.

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

BMO US Preferred Share Index finds support from accumulated volume at $20.50 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 $0.0050 between high and low, or 0.0242%. For the last week the ETF has had daily average volatility of 0.0822%.

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

Trading Expectations (ZUP.TO) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect BMO US Preferred Share Index ETF to open at $20.67, and during the day (based on 14 day Average True Range), to move between $20.60 and $20.74, which gives a possible trading interval of +/-$0.0663 (+/-0.32%) up or down from last closing price. If BMO US Preferred Share Index ETF takes out the full calculated possible swing range there will be an estimated 0.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $20.71 (0.19%) than the support at $20.50 (0.82%), 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 US Preferred Share Index ETF ETF A Buy?

BMO US Preferred Share Index 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: -3.445 Sell Candidate Downgraded

Predicted Opening Price for BMO US Preferred Share Index ETF of Tuesday, July 2, 2024

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