BMO MSCI USA High Quality Index ETF Forecast
BMO MSCI USA High Quality Index ETF price up 0.83% on Tuesday
(Updated on May 07, 2024)
The BMO MSCI USA High Quality Index ETF price gained 0.83% on the last trading day (Tuesday, 7th May 2024), rising from $76.15 to $76.78. It has now gained 4 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 0.91% from a day low at $76.20 to a day high of $76.89. The price has risen in 6 of the last 10 days and is up by 3.48% over the past 2 weeks. Volume fell on the last day by -79 shares and in total, 24 thousand shares were bought and sold for approximately $1.86 million. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BMO MSCI USA High Quality Index ETF with a 90% probability to be traded between $73.96 and $78.80 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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ZUQ.TO Signals & Forecast
Mostly positive signals in the chart today. The BMO MSCI USA High Quality Index 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 $75.11 and $75.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.11%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for BMO MSCI USA High Quality Index ETF
BMO MSCI USA High Quality Index finds support from accumulated volume at $75.48 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 $0.690 between high and low, or 0.91%. For the last week the ETF has had daily average volatility of 0.95%.
Our recommended stop-loss: $73.38 (-4.42%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ZUQ.TO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect BMO MSCI USA High Quality Index ETF to open at $76.62, and during the day (based on 14 day Average True Range), to move between $75.91 and $77.65, which gives a possible trading interval of +/-$0.87 (+/-1.13%) up or down from last closing price. If BMO MSCI USA High Quality Index ETF takes out the full calculated possible swing range there will be an estimated 2.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $77.07 (0.38%) than the support at $75.48 (1.69%), 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 MSCI USA High Quality Index 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 MSCI USA High Quality Index ETF to perform well in the short-term period.
Current score: 3.438 Buy Candidate Unchanged
Predicted Opening Price for BMO MSCI USA High Quality Index ETF of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $76.62 ( 0.204%) | $76.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZUQ.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.31 | 0.695 % | |
| R2 | 77.05 | 0.351 % | ||
| R1 | 76.89 | 0.139 % | ||
| Current price: | 76.78 | |||
| Support | S1 | 76.36 | -0.547 % | |
| S2 | 76.20 | -0.759 % | ||
| S3 | 75.93 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.59 | 1.05 % | |
| R2 | 77.32 | 0.703 % | ||
| R1 | 77.07 | 0.378 % | ||
| Current price | 76.78 | |||
| Support | S1 | 75.48 | -1.69% | |
| S2 | 74.66 | -2.76% | ||
| S3 | 73.05 | -4.86% |
ZUQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 02, 2024 | $0.150 | 0.197% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.150 | 0.226% |
| 3 | Sep 27, 2023 | Sep 27, 2023 | Sep 27, 2023 | $0.150 | 0.248% |
| 4 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | $0.150 | 0.251% |
| 5 | Mar 29, 2023 | Mar 29, 2023 | Mar 29, 2023 | $0.150 | 0.274% |
FAQ
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