First Trust RBA American Industrial ETF Forecast
First Trust RBA American Industrial ETF upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The First Trust RBA American Industrial ETF price gained 2.27% on the last trading day (Wednesday, 27th Mar 2024), rising from $65.61 to $67.10. During the last trading day the ETF fluctuated 1.48% from a day low at $66.12 to a day high of $67.10. The price has risen in 6 of the last 10 days and is up by 4.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 215 thousand more shares were traded than the day before. In total, 306 thousand shares were bought and sold for approximately $20.54 million.
The ETF lies in the middle of a wide and 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 20.76% during the next 3 months and, with a 90% probability hold a price between $76.69 and $85.44 at the end of this 3-month period.
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AIRR Signals & Forecast
The First Trust RBA American Industrial 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 $65.32 and $62.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 24.88%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
Support, Risk & Stop-loss for First Trust RBA American Industrial ETF
First Trust RBA American Industrial finds support from accumulated volume at $65.77 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 $0.98 between high and low, or 1.48%. For the last week the ETF has had daily average volatility of 1.17%.
Our recommended stop-loss: $64.68 (-3.60%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (AIRR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect First Trust RBA American Industrial Renaissance ETF to open at $66.77, and during the day (based on 14 day Average True Range), to move between $66.09 and $68.11, which gives a possible trading interval of +/-$1.01 (+/-1.50%) up or down from last closing price. If First Trust RBA American Industrial Renaissance ETF takes out the full calculated possible swing range there will be an estimated 3.00% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $65.77, some $1.33 (1.98%) from the current price of $67.10, our system finds the risk reward attractive.
Is First Trust RBA American Industrial Renaissance ETF ETF A Buy?
First Trust RBA American Industrial holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". 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: 8.464 Strong Buy Candidate Upgraded
Predicted Opening Price for First Trust RBA American Industrial Renaissance ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$66.77 ( 0.487%) | $67.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIRR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 67.75 | 0.97 % | |
R2 | 67.38 | 0.416 % | ||
R1 | 67.15 | 0.0711 % | ||
Current price: | 67.10 | |||
Support | S1 | 66.40 | -1.04 % | |
S2 | 66.17 | -1.39 % | ||
S3 | 65.79 | -1.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 67.10 | |||
Support | S1 | 65.77 | -1.98% | |
S2 | 63.65 | -5.14% | ||
S3 | 60.92 | -9.21% |
AIRR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0096 | 0.0143% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0447 | 0.0773% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0190 | 0.0369% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0410 | 0.0758% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0290 | 0.0604% |
FAQ
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