First Trust Senior Loan Fund ETF Forecast
Stronger technical forecast for First Trust Senior Loan Fund ETF price after Friday trading.
(Updated on Apr 26, 2024)
The First Trust Senior Loan Fund ETF price gained 0.0870% on the last trading day (Friday, 26th Apr 2024), rising from $45.99 to $46.03. During the last trading day the ETF fluctuated 0.109% from a day low at $46.02 to a day high of $46.07. The price has fallen in 5 of the last 10 days and is down by -0.32% for this period. Volume fell on the last day by -24 thousand shares and in total, 184 thousand shares were bought and sold for approximately $8.46 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $45.99 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect First Trust Senior Loan Fund ETF with a 90% probability to be traded between $46.18 and $46.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FTSL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.0870%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Senior Loan Fund ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $46.11 and $46.19. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The ETF had a Golden Star Signal on Friday, June 30, 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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Friday, June 30, 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.
A buy signal from a double bottom formation was found on Thursday, April 25, 2024 and based on theory for this formation the price should go up by 0.210% to $46.13 within 22 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for First Trust Senior Loan Fund ETF
First Trust Senior Loan Fund finds support from accumulated volume at $45.98 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 $0.0500 between high and low, or 0.109%. For the last week the ETF has had daily average volatility of 0.161%.
Our recommended stop-loss: $42.50 (-7.67%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (FTSL) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First Trust Senior Loan Fund ETF to open at $46.04, and during the day (based on 14 day Average True Range), to move between $45.87 and $46.19, which gives a possible trading interval of +/-$0.161 (+/-0.35%) up or down from last closing price. If First Trust Senior Loan Fund ETF takes out the full calculated possible swing range there will be an estimated 0.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.98 (0.11%) than the resistance at $46.09 (0.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Trust Senior Loan Fund ETF ETF A Buy?
First Trust Senior Loan Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.550 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Senior Loan Fund ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $46.04 ( 0.0217%) | $46.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.09 | 0.130 % | |
| R2 | 46.07 | 0.0889 % | ||
| R1 | 46.06 | 0.0632 % | ||
| Current price: | 46.03 | |||
| Support | S1 | 46.02 | -0.0198 % | |
| S2 | 46.01 | -0.0454 % | ||
| S3 | 45.99 | -0.0869 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.18 | 0.326 % | |
| R2 | 46.15 | 0.261 % | ||
| R1 | 46.09 | 0.130 % | ||
| Current price | 46.03 | |||
| Support | S1 | 45.98 | -0.109% | |
| S2 | 45.91 | -0.261% | ||
| S3 | 45.89 | -0.304% |
FTSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 23, 2024 | Apr 30, 2024 | $0.295 | 0.641% |
| 2 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.300 | 0.649% |
| 3 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.300 | 0.650% |
| 4 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.308 | 0.671% |
| 5 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.303 | 0.657% |
FAQ
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