First Trust NASDAQ ABA Community Bank ETF Forecast
Red day on Thursday for First Trust NASDAQ ABA Community Bank ETF after losing 1.12%
(Updated on Apr 25, 2024)
The First Trust NASDAQ ABA Community Bank ETF price fell by -1.12% on the last day (Thursday, 25th Apr 2024) from $45.47 to $44.96. During the last trading day the ETF fluctuated 0.758% from a day low at $44.72 to a day high of $45.06. The price has risen in 6 of the last 10 days and is up by 3.42% over the past 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 thousand shares were bought and sold for approximately $215.36 thousand.
The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -5.31% during the next 3 months and, with a 90% probability hold a price between $40.02 and $44.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QABA Signals & Forecast
The First Trust NASDAQ ABA Community Bank 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 $44.35 and $44.64. 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 5.64%. 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). First Trust NASDAQ ABA Community Bank gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for First Trust NASDAQ ABA Community Bank ETF
First Trust NASDAQ ABA Community Bank finds support from accumulated volume at $44.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.339 between high and low, or 0.758%. For the last week, the ETF has had daily average volatility of 1.29%.
Our recommended stop-loss: $43.39 (-3.49%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (QABA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect First Trust NASDAQ ABA Community Bank Index Fund to open at $44.91, and during the day (based on 14 day Average True Range), to move between $44.18 and $45.74, which gives a possible trading interval of +/-$0.781 (+/-1.74%) up or down from last closing price. If First Trust NASDAQ ABA Community Bank Index Fund takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.08 (0.27%) than the support at $44.29 (1.49%), 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 ABA Community Bank Index Fund ETF A Buy?
First Trust NASDAQ ABA Community Bank holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.513 Hold/Accumulate Unchanged
Predicted Opening Price for First Trust NASDAQ ABA Community Bank Index Fund of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $44.91 ( 0.103%) | $44.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QABA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.25 | 0.651 % | |
| R2 | 45.12 | 0.363 % | ||
| R1 | 45.04 | 0.185 % | ||
| Current price: | 44.96 | |||
| Support | S1 | 44.78 | -0.391 % | |
| S2 | 44.70 | -0.569 % | ||
| S3 | 44.57 | -0.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.11 | 2.56 % | |
| R2 | 45.96 | 2.22 % | ||
| R1 | 45.08 | 0.267 % | ||
| Current price | 44.96 | |||
| Support | S1 | 44.29 | -1.49% | |
| S2 | 44.00 | -2.14% | ||
| S3 | 42.56 | -5.34% |
QABA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.273 | 0.587% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.360 | 0.721% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.309 | 0.777% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.337 | 0.85% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.346 | 0.80% |
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