First Trust NASDAQ-100- Technology Index ETF Forecast
Red day on Thursday for First Trust NASDAQ-100- Technology Index ETF after losing 0.168%
(Updated on Mar 28, 2024)
The First Trust NASDAQ-100- Technology Index ETF price fell by -0.168% on the last day (Thursday, 28th Mar 2024) from $191.00 to $190.68. During the last trading day the ETF fluctuated 0.625% from a day low at $190.40 to a day high of $191.59. The price has fallen in 5 of the last 10 days but is still up by 0.97% over the past 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 -103 thousand shares and in total, 59 thousand shares were bought and sold for approximately $11.21 million.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 11.77% during the next 3 months and, with a 90% probability hold a price between $208.57 and $224.50 at the end of this 3-month period.
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QTEC Signals & Forecast
The First Trust NASDAQ-100- Technology Index ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $190.72. On a fall, the ETF will find some support from the long-term average at approximately $189.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -2.55%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for First Trust NASDAQ-100- Technology Index ETF
First Trust NASDAQ-100- Technology Index finds support from accumulated volume at $189.83 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 $1.19 between high and low, or 0.625%. For the last week the ETF has had daily average volatility of 0.99%.
Our recommended stop-loss: $182.57 (-4.25%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (QTEC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust NASDAQ-100- Technology Index Fund to open at $190.89, and during the day (based on 14 day Average True Range), to move between $187.65 and $193.71, which gives a possible trading interval of +/-$3.03 (+/-1.59%) up or down from last closing price. If First Trust NASDAQ-100- Technology Index Fund takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $190.72 (0.02%) than the support at $189.83 (0.45%), 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 First Trust NASDAQ-100- Technology Index Fund ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust NASDAQ-100- Technology Index ETF to perform well in the short-term.
Current score: 2.232 Buy Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ-100- Technology Index Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$190.89 ( 0.110%) | $190.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QTEC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 192.08 | 0.734 % | |
R2 | 191.63 | 0.496 % | ||
R1 | 191.34 | 0.349 % | ||
Current price: | 190.68 | |||
Support | S1 | 190.44 | -0.128 % | |
S2 | 190.15 | -0.276 % | ||
S3 | 189.70 | -0.514 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 192.75 | 1.09 % | |
R2 | 191.00 | 0.168 % | ||
R1 | 190.72 | 0.0210 % | ||
Current price | 190.68 | |||
Support | S1 | 189.83 | -0.446% | |
S2 | 174.52 | -8.47% | ||
S3 | 170.04 | -10.82% |
QTEC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0084 | 0.0044% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0312 | 0.0178% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0310 | 0.0213% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0590 | 0.0401% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.117 | 0.0896% |
FAQ
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