First Trust NASDAQ Global Auto Index ETF Forecast
Red day on Thursday for First Trust NASDAQ Global Auto Index
(Updated on Mar 28, 2024)
No changes to the price of First Trust NASDAQ Global Auto Index ETF on the last trading day (Thursday, 28th Mar 2024). During the last trading day the ETF fluctuated 0.425% from a day low at $58.78 to a day high of $59.03. The price has risen in 5 of the last 10 days and is up by 1.83% over the past 2 weeks.
The ETF lies in the middle of a weak 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 9.38% during the next 3 months and, with a 90% probability hold a price between $62.86 and $66.46 at the end of this 3-month period.
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CARZ Signals & Forecast
The First Trust NASDAQ Global Auto Index 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 $58.69 and $57.70. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the ETF should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -1.03%. 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).
Support, Risk & Stop-loss for First Trust NASDAQ Global Auto Index ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $55.55 and $54.55. 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 NASDAQ Global Auto Index finds support just below today's level at $55.55. If this is broken, then the next support from accumulated volume will be at $54.55 and $54.48.
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 $0.250 between high and low, or 0.425%. For the last week the ETF has had daily average volatility of 0.83%.
Our recommended stop-loss: $56.44 (-4.12%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (CARZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust NASDAQ Global Auto Index Fund to open at $58.89, and during the day (based on 14 day Average True Range), to move between $58.14 and $59.60, which gives a possible trading interval of +/-$0.731 (+/-1.24%) up or down from last closing price. If First Trust NASDAQ Global Auto Index Fund takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.97 (0.17%) than the support at $55.55 (5.64%), 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 Global Auto Index Fund ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust NASDAQ Global Auto Index ETF to perform well in the short-term.
Current score: 2.695 Buy Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ Global Auto Index Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$58.89 ( 0.0396%) | $58.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CARZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.14 | 0.464 % | |
R2 | 59.05 | 0.302 % | ||
R1 | 58.99 | 0.202 % | ||
Current price: | 58.87 | |||
Support | S1 | 58.80 | -0.123 % | |
S2 | 58.74 | -0.223 % | ||
S3 | 58.64 | -0.385 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.48 | 1.04 % | |
R2 | 59.06 | 0.323 % | ||
R1 | 58.97 | 0.170 % | ||
Current price | 58.87 | |||
Support | S1 | 55.55 | -5.64% | |
S2 | 54.55 | -7.34% | ||
S3 | 54.48 | -7.46% |
CARZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.223 | 0.392% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.120 | 0.234% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.348 | 0.623% |
4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.106 | 0.208% |
5 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.236 | 0.582% |
FAQ
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