First Trust NASDAQ Rising Dividend ETF Forecast
Evaluation of First Trust NASDAQ Rising Dividend ETF downgraded after the last trading session.
(Updated on Apr 19, 2024)
The First Trust NASDAQ Rising Dividend ETF price gained 0.641% on the last trading day (Friday, 19th Apr 2024), rising from $53.05 to $53.39. During the last trading day the ETF fluctuated 0.772% from a day low at $53.13 to a day high of $53.54. The price has fallen in 7 of the last 10 days and is down by -3.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 137 thousand more shares were traded than the day before. In total, 902 thousand shares were bought and sold for approximately $48.16 million.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $53.12 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 8.73% during the next 3 months and, with a 90% probability hold a price between $57.76 and $62.28 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RDVY Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.641%. Further rise is indicated until a new top pivot has been found. 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. The First Trust NASDAQ Rising Dividend 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 $53.59 and $54.54. 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).
Support, Risk & Stop-loss for First Trust NASDAQ Rising Dividend ETF
First Trust NASDAQ Rising Dividend finds support from accumulated volume at $52.84 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 $0.410 between high and low, or 0.772%. For the last week the ETF has had daily average volatility of 1.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RDVY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect First Trust NASDAQ Rising Dividend Achievers ETF to open at $53.35, and during the day (based on 14 day Average True Range), to move between $52.71 and $54.07, which gives a possible trading interval of +/-$0.677 (+/-1.27%) up or down from last closing price. If First Trust NASDAQ Rising Dividend Achievers ETF takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $53.94 (1.03%) than the support at $52.84 (1.03%), 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 Rising Dividend Achievers ETF ETF A Buy?
The First Trust NASDAQ Rising Dividend ETF holds several negative signals and despite the positive trend, we believe First Trust NASDAQ Rising Dividend will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.533 Sell Candidate Downgraded
Predicted Opening Price for First Trust NASDAQ Rising Dividend Achievers ETF of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $53.35 ( 0.0687%) | $53.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDVY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.76 | 0.699 % | |
| R2 | 53.61 | 0.406 % | ||
| R1 | 53.51 | 0.225 % | ||
| Current price: | 53.39 | |||
| Support | S1 | 53.20 | -0.362 % | |
| S2 | 53.10 | -0.543 % | ||
| S3 | 52.94 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.52 | 3.99 % | |
| R2 | 54.46 | 2.00 % | ||
| R1 | 53.94 | 1.03 % | ||
| Current price | 53.39 | |||
| Support | S1 | 52.84 | -1.03% | |
| S2 | 51.27 | -3.97% | ||
| S3 | 51.22 | -4.06% |
RDVY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.224 | 0.398% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.342 | 0.662% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.224 | 0.487% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.302 | 0.641% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.211 | 0.470% |
FAQ
Click here for our free guide on how to buy First Trust NASDAQ Rising Dividend Achievers ETF ETF.
