First Trust Mid Cap US Equity Select ETF Forecast

$33.01
+0.698 (+2.16%)
At Close: Mar 27, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of RNMC
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First Trust Mid Cap US Equity Select ETF upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 14, 2024 Gain 7.62% PDF

The First Trust Mid Cap US Equity Select ETF price gained 2.16% on the last trading day (Wednesday, 27th Mar 2024), rising from $32.31 to $33.01. During the last trading day the ETF fluctuated 0% from a day low at $33.01 to a day high of $33.01. The price has risen in 6 of the last 10 days and is up by 2.78% over the past 2 weeks. Volume fell on the last day by -482 shares and in total, 224 shares were bought and sold for approximately $7.39 thousand. 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 has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $32.39, a level that may pose a second chance to hit a runner. According to fan-theory $33.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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RNMC Signals & Forecast

The First Trust Mid Cap US Equity Select ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $32.44 and $31.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 9.01%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation

Support, Risk & Stop-loss for First Trust Mid Cap US Equity Select ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $31.14 and $31.09. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, First Trust Mid Cap US Equity Select finds support just below today's level at $31.14. If this is broken, then the next support from accumulated volume will be at $31.09 and $30.28.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.215%

Our recommended stop-loss: $31.91 (-3.34%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (RNMC) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect First Trust Mid Cap US Equity Select ETF to open at $33.01, and during the day (based on 14 day Average True Range), to move between $32.74 and $33.27, which gives a possible trading interval of +/-$0.264 (+/-0.80%) up or down from last closing price. If First Trust Mid Cap US Equity Select ETF takes out the full calculated possible swing range there will be an estimated 1.60% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $31.14, some $1.87 (5.66%) from the current price of $33.01, our system finds the risk reward attractive.

Is First Trust Mid Cap US Equity Select ETF ETF A Buy?

First Trust Mid Cap US Equity Select holds several positive signals and has broken the weak rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.515 Strong Buy Candidate Upgraded

Predicted Opening Price for First Trust Mid Cap US Equity Select ETF of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$33.01 ( 0%) $33.01

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for RNMC

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 33.01 .
R2 33.01 .
R1 33.01 .
Current price: 33.01
Support S1 33.01 .
S2 33.01 .
S3 33.01 .

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 33.01
Support S1 31.14 -5.66%
S2 31.09 -5.81%
S3 30.28 -8.27%

RNMC Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 21, 2024 Mar 21, 2024 Mar 28, 2024 $0.0600 0.182%
2 Dec 21, 2023 Dec 22, 2023 Dec 29, 2023 $0.185 0.595%
3 Sep 21, 2023 Sep 22, 2023 Sep 29, 2023 $0.0590 0.214%
4 Jun 26, 2023 Jun 27, 2023 Jun 30, 2023 $0.130 0.452%
5 Mar 23, 2023 Mar 24, 2023 Mar 31, 2023 $0.0840 0.304%

FAQ

What is the symbol for First Trust Mid Cap US Equity Select ETF ETF and on which exchange is it traded?
The symbol for First Trust Mid Cap US Equity Select ETF is RNMC and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell First Trust Mid Cap US Equity Select ETF ETF?
First Trust Mid Cap US Equity Select holds several positive signals and has broken the weak rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.

How to buy First Trust Mid Cap US Equity Select ETF ETF?
First Trust Mid Cap US Equity Select ETF ETF can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy First Trust Mid Cap US Equity Select ETF ETF.

What's the current price of First Trust Mid Cap US Equity Select ETF ETF?
As of the end of day on the 2024-03-27, the price of an First Trust Mid Cap US Equity Select ETF (RNMC) share was $33.01.

What is the 52-week high and low for First Trust Mid Cap US Equity Select ETF ETF?
The 52-week high for First Trust Mid Cap US Equity Select ETF ETF is $33.01 and the 52-week low is $25.85.

What is the market capitalization of First Trust Mid Cap US Equity Select ETF ETF?
As of the 2024-03-27, the market capitalization of First Trust Mid Cap US Equity Select ETF is 17.305M.
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