First Trust High Yield Long/Short ETF Forecast
Stronger technical forecast for First Trust High Yield Long/Short ETF price after Wednesday trading.
(Updated on Mar 27, 2024)
The First Trust High Yield Long/Short ETF price gained 0.414% on the last trading day (Wednesday, 27th Mar 2024), rising from $41.04 to $41.21. During the last trading day the ETF fluctuated 0.439% from a day low at $41.03 to a day high of $41.21. The price has risen in 6 of the last 10 days but is still down by -0.36% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 119 thousand shares were bought and sold for approximately $4.92 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust High Yield Long/Short ETF with a 90% probability to be traded between $40.82 and $41.47 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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HYLS Signals & Forecast
The First Trust High Yield Long/Short ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $41.19 and $41.18. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical 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 Monday, March 11, 2024, and so far it has fallen -0.507%. 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). The ETF had a Golden Star Signal on Thursday, February 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 28, 2023.
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
The ETF had a Golden Star Signal on Thursday, February 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 28, 2023.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 Thursday, February 22, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 28, 2023.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 High Yield Long/Short ETF
First Trust High Yield Long/Short finds support from accumulated volume at $41.18 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 $0.180 between high and low, or 0.439%. For the last week the ETF has had daily average volatility of 0.541%.
Our recommended stop-loss: $39.45 (-4.26%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (HYLS) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect First Trust High Yield Long/Short ETF to open at $41.15, and during the day (based on 14 day Average True Range), to move between $40.98 and $41.44, which gives a possible trading interval of +/-$0.230 (+/-0.56%) up or down from last closing price. If First Trust High Yield Long/Short ETF takes out the full calculated possible swing range there will be an estimated 1.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.24 (0.07%) than the support at $41.18 (0.07%), 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 High Yield Long/Short ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for First Trust High Yield Long/Short ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.059 Buy Candidate Upgraded
Predicted Opening Price for First Trust High Yield Long/Short ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$41.15 ( 0.146%) | $41.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYLS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.33 | 0.291 % | |
R2 | 41.26 | 0.124 % | ||
R1 | 41.22 | 0.0213 % | ||
Current price: | 41.21 | |||
Support | S1 | 41.08 | -0.312 % | |
S2 | 41.04 | -0.416 % | ||
S3 | 40.97 | -0.582 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.38 | 0.413 % | |
R2 | 41.26 | 0.121 % | ||
R1 | 41.24 | 0.0728 % | ||
Current price | 41.21 | |||
Support | S1 | 41.18 | -0.0728% | |
S2 | 41.17 | -0.0971% | ||
S3 | 41.02 | -0.461% |
HYLS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.225 | 0.546% |
2 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.220 | 0.529% |
3 | Nov 20, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.215 | 0.532% |
4 | Oct 23, 2023 | Oct 24, 2023 | Oct 31, 2023 | $0.215 | 0.561% |
5 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.215 | 0.548% |
FAQ
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