First Trust Emerging Markets AlphaDEX ETF Forecast
Green day on Thursday for First Trust Emerging Markets AlphaDEX ETF after gaining 0.175%
(Updated on Mar 28, 2024)
The First Trust Emerging Markets AlphaDEX ETF price gained 0.175% on the last trading day (Thursday, 28th Mar 2024), rising from $22.83 to $22.87. During the last trading day the ETF fluctuated 0.526% from a day low at $22.82 to a day high of $22.94. The price has risen in 6 of the last 10 days but is still down by -0.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 46 thousand shares were bought and sold for approximately $1.05 million.
The ETF lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.79 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 7.03% during the next 3 months and, with a 90% probability hold a price between $24.39 and $25.37 at the end of this 3-month period.
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FEM Signals & Forecast
First Trust Emerging Markets AlphaDEX has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Emerging Markets AlphaDEX 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 $22.93 and $23.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -2.26%. 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).
Support, Risk & Stop-loss for First Trust Emerging Markets AlphaDEX ETF
First Trust Emerging Markets AlphaDEX finds support from accumulated volume at $22.39 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 $0.120 between high and low, or 0.526%. For the last week the ETF has had daily average volatility of 0.531%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FEM) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust Emerging Markets AlphaDEX Fund to open at $22.88, and during the day (based on 14 day Average True Range), to move between $22.68 and $23.06, which gives a possible trading interval of +/-$0.191 (+/-0.84%) up or down from last closing price. If First Trust Emerging Markets AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 1.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.90 (0.13%) than the support at $22.39 (2.10%), 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 Emerging Markets AlphaDEX Fund ETF A Buy?
The First Trust Emerging Markets AlphaDEX ETF holds several negative signals and despite the positive trend, we believe First Trust Emerging Markets AlphaDEX will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.584 Sell Candidate Unchanged
Predicted Opening Price for First Trust Emerging Markets AlphaDEX Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$22.88 ( 0.0292%) | $22.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.00 | 0.554 % | |
R2 | 22.95 | 0.353 % | ||
R1 | 22.92 | 0.230 % | ||
Current price: | 22.87 | |||
Support | S1 | 22.83 | -0.171 % | |
S2 | 22.80 | -0.295 % | ||
S3 | 22.76 | -0.496 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.34 | 2.06 % | |
R2 | 23.08 | 0.92 % | ||
R1 | 22.90 | 0.131 % | ||
Current price | 22.87 | |||
Support | S1 | 22.39 | -2.10% | |
S2 | 22.16 | -3.10% | ||
S3 | 21.86 | -4.42% |
FEM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0949 | 0.415% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0897 | 0.405% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.461 | 2.21% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.505 | 2.38% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0430 | 0.203% |
FAQ
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