First Trust Small Cap US Equity Select ETF Forecast

First Trust Small Cap US Equity Select ETF downgraded to Sell Candidate
(Updated on Apr 24, 2024)

RNSC Signals & Forecast

There are mixed signals in the ETF today. The First Trust Small Cap US Equity Select 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 $27.93. On a fall, the ETF will find some support from the short-term average at $27.23. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). First Trust Small Cap US Equity Select gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.39%. Further rise is indicated until a new top pivot has been found. The ETF had a Golden Star Signal on Tuesday, June 27, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

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

First Trust Small Cap US Equity Select finds support from accumulated volume at $27.66 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 $0.184 (0.667%) between high and low. For the last week, the ETF has had daily average volatility of 1.09%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RNSC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect First Trust Small Cap US Equity Select ETF to open at $27.63, and during the day (based on 14 day Average True Range), to move between $27.36 and $28.03, which gives a possible trading interval of +/-$0.333 (+/-1.20%) up or down from last closing price. If First Trust Small Cap US Equity Select ETF takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $27.66 (0.11%) than the resistance at $28.08 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

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

First Trust Small Cap US Equity Select 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. 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: -1.364 Sell Candidate Downgraded

Predicted Opening Price for First Trust Small Cap US Equity Select ETF of Thursday, April 25, 2024

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