CI Morningstar International Momentum ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
CI Morningstar International Momentum ETF price down 0.665% on Tuesday
(Updated on Jun 25, 2024)
The CI Morningstar International Momentum ETF price fell by -0.665% on the last day (Tuesday, 25th Jun 2024) from $42.12 to $41.84. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 0.0239% from a day low at $41.83 to a day high of $41.84. The price has been going up and down for this period, and there has been a -2.36% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -50 shares and in total, 400 shares were bought and sold for approximately $16.74 thousand.
The ETF has broken the narrow and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $41.97. A reaction back to this level may hold a second chance to get out before further falls.
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ZXM.TO Signals & Forecast
There are few to no technical positive signals at the moment. The CI Morningstar International Momentum ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $42.34 and $42.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -3.17%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CI Morningstar International Momentum ETF
CI Morningstar International Momentum finds support from accumulated volume at $41.70 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0100 between high and low, or 0.0239%. For the last week the ETF has had daily average volatility of 0.0846%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZXM.TO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect CI Morningstar International Momentum Index ETF to open at $41.84, and during the day (based on 14 day Average True Range), to move between $41.65 and $42.03, which gives a possible trading interval of +/-$0.187 (+/-0.45%) up or down from last closing price. If CI Morningstar International Momentum Index ETF takes out the full calculated possible swing range there will be an estimated 0.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.70 (0.33%) than the resistance at $42.35 (1.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CI Morningstar International Momentum Index ETF ETF A Buy?
The CI Morningstar International Momentum ETF holds several negative signals and despite the positive trend, we believe CI Morningstar International Momentum will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.693 Sell Candidate Unchanged
Predicted Opening Price for CI Morningstar International Momentum Index ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $41.84 ( 0.0080%) | $41.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZXM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.85 | 0.0159% |
| R2 | 41.84 | 0.0068% |
| R1 | 41.84 | 0.0012% |
| Price | 41.84 | |
| S1 | 41.83 | -0.0171% |
| S2 | 41.83 | -0.0227% |
| S3 | 41.83 | -0.0319% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.80 | 2.29% |
| R2 | 42.77 | 2.22% |
| R1 | 42.35 | 1.22% |
| Price | 41.84 | |
| S1 | 41.70 | -0.335% |
| S2 | 41.59 | -0.598% |
| S3 | 40.98 | -2.06% |
ZXM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0676 | 0.160% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.275 | 0.767% |
| 3 | Sep 22, 2023 | Sep 22, 2023 | Sep 22, 2023 | $0.220 | 0.631% |
| 4 | Jun 23, 2023 | Jun 23, 2023 | Jun 23, 2023 | $0.741 | 2.06% |
| 5 | Mar 24, 2023 | Mar 24, 2023 | Mar 24, 2023 | $0.0590 | 0.176% |
FAQ
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