BANK OF MONTREAL (BMO)       99.33  -0.05 (-0.05%)

99.33  -0.05 (-0.05%)

CA0636711016 - Common Stock - After market: 98.71 -0.62 (-0.62%)

Technical Rating

7

Overall BMO gets a technical rating of 7 out of 10. BMO has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.



The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
BMO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When compared to the yearly performance of all other stocks, BMO outperforms 64% of them, which is more or less in line with the market.
BMO is an average performer in the Banks industry, it outperforms 40% of 322 stocks in the same industry.
BMO is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 6.58% 0.86% -7.50% -7.72% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 64.96 81.57 - 122.77
BMO Weekly chart
BMO Daily chart

Support/Resistance Analysis


84.96

101.16
2 important support areas can be observed.
  • A support zone ranging from 95.49 to 99.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 85.82 to 86.74. This zone is formed by a combination of multiple trend lines in the weekly time frame.
When analyzing the resistance we notice one important area.
  • A resistance zone ranging from 100.16 to 100.16. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

8

BMO has an excellent technical rating and 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 100.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 99.08, 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.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
100.1797.033.14 (3.13%)25.00%
An entry @100.17. This is a Buy Stop order right above the resistance zone.An exit @97.03. This is a Stop Loss order right below the 10 day low.The worst case loss on the trade is limited to 3.14 points, which is 3.13%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.78%.

  • 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.
BMO Daily chart

BANK OF MONTREAL99.33

NYSE:BMO (11/25/2022, 6:48:27 PM)-0.05 (-0.05%)

After market: 98.71 -0.62 (-0.62%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Financials
GICS Industry Banks
Performance
Today -0.05% 1 Week 0.9%
2 Weeks 0.71% 1 Month 6.58%
3 Month 0.86% 6 Month -7.5%
Volatility
ATR(14) 1.78 ATR(20)% 1.91%
ATR Inc -52.35% Range Today 0.76
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 64.96 Mansfield -0.14
10 Day High 101.2 10 Day Low 97.04
20 Day High 101.2 20 Day Low 89.42
52 Week High 122.77 52 Week Low 81.57
CS1 End 99.08 CR1 Start 100.16
Volume & EV
DER(3) 7.87% DER(5) 5.29%
Volume 232.90K Volume Incr -24.02%
Vol(5) 589.12K Vol(50) 750.30K

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