Fidelity Nasdaq Composite Index Tracking ETF Forecast
Stronger technical forecast for Fidelity Nasdaq Composite Index Tracking ETF price after Monday trading.
(Updated on Apr 22, 2024)
The Fidelity Nasdaq Composite Index Tracking ETF price gained 1.08% on the last trading day (Monday, 22nd Apr 2024), rising from $60.18 to $60.83. During the last trading day the ETF fluctuated 1.85% from a day low at $60.11 to a day high of $61.22. The price has fallen in 7 of the last 10 days and is down by -5.01% for this period. Volume fell on the last day by -60 thousand shares and in total, 518 thousand shares were bought and sold for approximately $31.50 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $60.22 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 3.55% during the next 3 months and, with a 90% probability hold a price between $62.35 and $67.26 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.
ONEQ Signals & Forecast
The Fidelity Nasdaq Composite Index Tracking 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 $61.85 and $63.51. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.08%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Fidelity Nasdaq Composite Index Tracking ETF
Fidelity Nasdaq Composite Index Tracking finds support from accumulated volume at $60.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $1.11 (1.85%) between high and low. For the last week, the ETF has had daily average volatility of 1.67%.
Our recommended stop-loss: $57.52 (-5.45%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ONEQ) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Fidelity Nasdaq Composite Index Tracking Stock to open at $60.72, and during the day (based on 14 day Average True Range), to move between $59.87 and $61.79, which gives a possible trading interval of +/-$0.96 (+/-1.58%) up or down from last closing price. If Fidelity Nasdaq Composite Index Tracking Stock takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $60.52 (0.51%) than the resistance at $62.40 (2.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fidelity Nasdaq Composite Index Tracking Stock ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.673 Buy Candidate Upgraded
Predicted Opening Price for Fidelity Nasdaq Composite Index Tracking Stock of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$60.72 ( 0.181%) | $60.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONEQ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.83 | 1.64 % | |
R2 | 61.41 | 0.95 % | ||
R1 | 61.14 | 0.516 % | ||
Current price: | 60.83 | |||
Support | S1 | 60.30 | -0.88 % | |
S2 | 60.03 | -1.31 % | ||
S3 | 59.61 | -2.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.92 | 5.08 % | |
R2 | 62.58 | 2.88 % | ||
R1 | 62.40 | 2.58 % | ||
Current price | 60.83 | |||
Support | S1 | 60.52 | -0.510% | |
S2 | 60.18 | -1.07% | ||
S3 | 59.71 | -1.84% |
ONEQ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.112 | 0.174% |
2 | Dec 28, 2023 | Dec 28, 2023 | Jan 03, 2024 | $0.0160 | 0.0278% |
3 | Dec 15, 2023 | Dec 15, 2023 | Dec 20, 2023 | $0.112 | 0.192% |
4 | Sep 15, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.100 | 0.189% |
5 | Sep 08, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.0900 | 0.168% |
FAQ
Click here for our free guide on how to buy Fidelity Nasdaq Composite Index Tracking Stock ETF.