BANK OF MONTREAL (BMO) Stock Technical Analysis
NYSE:BMO - New York Stock Exchange, Inc. - CA0636711016 - Common Stock - Currency: USD
Taking everything into account, BMO scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, BMO has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, BMO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 113.13. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 112.20, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BMO in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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3 important support areas can be observed.
- A support zone ranging from 109.13 to 112.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @93.57 from a trend line in the weekly time frame.
- A support zone ranging from 89.36 to 90.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 113.13 to 114.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BMO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BMO is up. |
| ChartMill Relative Strength | 83.76 | POSITIVE | BMO has a high relative strength, it outperformed 83.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BMO is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BMO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BMO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.35 | NEUTRAL | The RSI value for BMO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.33 | NEGATIVE | The MACD value suggests BMO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 50.28 | NEUTRAL | The Stochastics value for BMO is a neutral value. |
| Average True Range in percent/ATR (20) | 1.06 | LOW VOLATILITY | The low ATR as a percentage value for BMO suggests low volalility. |
| Average Directional Index/ADX (14) | 26.82 | POSITIVE | The high ADX value value for BMO suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 115.00 | 109.63 | 5.37 (4.67%) | 21.42% |
| An entry @115.00. This is a Buy Stop order right above the resistance zone. | An exit @109.63. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 5.37 points, which is 4.67%. | For a 1.00% total portfolio risk, you can invest 21.42% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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+0.23 (+0.2%)