First Trust Europe AlphaDEX Fund ETF Forecast

Green day on Thursday for First Trust Europe AlphaDEX Fund
(Updated on Apr 25, 2024)

FEP Signals & Forecast

The First Trust Europe AlphaDEX Fund ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $36.79 and $37.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.88%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for First Trust Europe AlphaDEX Fund ETF

First Trust Europe AlphaDEX Fund finds support from accumulated volume at $36.47 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 $0.420 between high and low, or 1.14%. For the last week the ETF has had daily average volatility of 0.88%

Our recommended stop-loss: $35.39 (-4.89%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (FEP) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Trust Europe AlphaDEX Fund to open at $37.07, and during the day (based on 14 day Average True Range), to move between $36.79 and $37.63, which gives a possible trading interval of +/-$0.415 (+/-1.12%) up or down from last closing price. If First Trust Europe AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $37.54 (0.89%) than the support at $36.47 (1.99%), 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 Europe AlphaDEX 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 Europe AlphaDEX Fund ETF to perform well in the short-term.

Current score: 1.690 Buy Candidate Unchanged

Predicted Opening Price for First Trust Europe AlphaDEX Fund of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.