First Trust NASDAQ Clean Edge Smart Grid ETF Forecast
First Trust NASDAQ Clean Edge Smart Grid ETF price up 0.412% on Wednesday
(Updated on Apr 24, 2024)
The First Trust NASDAQ Clean Edge Smart Grid ETF price gained 0.412% on the last trading day (Wednesday, 24th Apr 2024), rising from $111.76 to $112.22. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.44% from a day low at $111.55 to a day high of $113.16. The price has been going up and down for this period, and there has been a -0.16% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 45 thousand shares were bought and sold for approximately $5.08 million.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 11.99% during the next 3 months and, with a 90% probability hold a price between $123.57 and $132.99 at the end of this 3-month period.
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GRID Signals & Forecast
There are mixed signals in the ETF today. The First Trust NASDAQ Clean Edge Smart Grid ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $112.65. On a fall, the ETF will find some support from the short-term average at $110.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -2.30%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Trust NASDAQ Clean Edge Smart Grid ETF
First Trust NASDAQ Clean Edge Smart Grid finds support from accumulated volume at $111.42 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 $1.61 between high and low, or 1.44%. For the last week the ETF has had daily average volatility of 1.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRID) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index to open at $112.31, and during the day (based on 14 day Average True Range), to move between $110.63 and $113.81, which gives a possible trading interval of +/-$1.59 (+/-1.42%) up or down from last closing price. If First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $112.28 (0.05%) than the support at $111.42 (0.71%), 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 Clean Edge Smart Grid Infrastructure Index ETF A Buy?
First Trust NASDAQ Clean Edge Smart Grid holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.829 Sell Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $112.31 ( 0.0802%) | $112.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRID
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.92 | 1.51 % | |
| R2 | 113.31 | 0.97 % | ||
| R1 | 112.93 | 0.628 % | ||
| Current price: | 112.22 | |||
| Support | S1 | 111.69 | -0.468 % | |
| S2 | 111.31 | -0.81 % | ||
| S3 | 110.70 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 114.86 | 2.35 % | |
| R2 | 113.90 | 1.50 % | ||
| R1 | 112.28 | 0.0535 % | ||
| Current price | 112.22 | |||
| Support | S1 | 111.42 | -0.713% | |
| S2 | 102.68 | -8.50% | ||
| S3 | 102.66 | -8.52% |
GRID Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.102 | 0.0888% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.355 | 0.339% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.159 | 0.169% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.698 | 0.664% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0800 | 0.0819% |
FAQ
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