BANK OF MONTREAL - 1H - Technical analysis published on 08/07/2024 (GMT)
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- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
11%
39%
My opinion
Bearish under 83.03 USD
My targets
77.39 USD (-4.24%)
74.22 USD (-8.17%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 83.03 USD remains possible. It is advisable to trade BANK OF MONTREAL with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 83.03 USD. The next bearish objective for sellers is set at 77.39 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 74.22 USD. In case of crossing, the next objective would be the support located at 57.60 USD. PS: if there is a bullish break in the resistance located at 83.03 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.3
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Additional analysis
Quotes
The BANK OF MONTREAL price is 80.82 USD. The price is lower by -0.16% since the last closing and was between 80.73 USD and 82.47 USD. This implies that the price is at +0.11% from its lowest and at -2.00% from its highest.80.73
82.47
80.82
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of BANK OF MONTREAL in 1H shows an overall bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 9 technical indicators out of 18 studied are currently bullish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 57.60 | 74.22 | 77.39 | 80.82 | 83.03 | 85.47 | 87.72 |
| Change (%) | -28.73% | -8.17% | -4.24% | - | +2.73% | +5.75% | +8.54% |
| Change | -23.22 | -6.60 | -3.43 | - | +2.21 | +4.65 | +6.90 |
| Level | Minor | Major | Intermediate | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.08 | 78.02 | 79.48 | 80.42 | 81.88 | 82.82 | 84.28 |
| Camarilla | 80.29 | 80.51 | 80.73 | 80.95 | 81.17 | 81.39 | 81.61 |
| Woodie | 77.35 | 78.15 | 79.75 | 80.55 | 82.15 | 82.95 | 84.55 |
| Fibonacci | 78.02 | 78.93 | 79.50 | 80.42 | 81.33 | 81.90 | 82.82 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.53 | 75.34 | 78.03 | 82.84 | 85.53 | 90.34 | 93.03 |
| Camarilla | 78.67 | 79.36 | 80.04 | 80.73 | 81.42 | 82.11 | 82.79 |
| Woodie | 69.48 | 74.81 | 76.98 | 82.31 | 84.48 | 89.81 | 91.98 |
| Fibonacci | 75.34 | 78.20 | 79.97 | 82.84 | 85.70 | 87.47 | 90.34 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 76.68 | 79.59 | 81.96 | 84.87 | 87.24 | 90.15 | 92.52 |
| Camarilla | 82.88 | 83.36 | 83.85 | 84.33 | 84.81 | 85.30 | 85.78 |
| Woodie | 76.41 | 79.46 | 81.69 | 84.74 | 86.97 | 90.02 | 92.25 |
| Fibonacci | 79.59 | 81.61 | 82.85 | 84.87 | 86.89 | 88.13 | 90.15 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.36 | |
| MACD (12,26,9): | -0.1900 | |
| Directional Movement: | 4.94 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 80.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.89 | |
| Elder Ray (13): | 0.14 | |
| Super Trend (3,10): | 79.70 | |
| Zig ZAG (10): | 80.85 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 61.99 | |
| TEMA (21): | 80.91 | |
| Williams %R (14): | -43.20 | |
| Chande Momentum Oscillator (20): | 1.93 | |
| Repulse (5,40,3): | -0.8900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 4.92 |
| MA7: | 81.58 | |
| MA20: | 85.08 | |
| MA50: | 85.29 | |
| MA100: | 89.68 | |
| MAexp7: | 80.87 | |
| MAexp20: | 80.70 | |
| MAexp50: | 81.94 | |
| MAexp100: | 83.37 | |
| Price / MA7: | -0.93% | |
| Price / MA20: | -5.01% | |
| Price / MA50: | -5.24% | |
| Price / MA100: | -9.88% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | +0.15% | |
| Price / MAexp50: | -1.37% | |
| Price / MAexp100: | -3.06% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The last news published on BANK OF MONTREAL at the time of the generation of this analysis was as follows:
- Tucows Inc. Announces New Credit Facility with Bank of Montreal
- Hazel Claxton Appointed to Bank of Montreal Board of Directors
- Hazel Claxton Appointed to Bank of Montreal Board of Directors
- Hazel Claxton Appointed to Bank of Montreal Board of Directors
- Bank of Montreal Completes Offering of Common Shares including Full Exercise of Over-Allotment Option on Public Offering
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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