First Trust Dorsey Wright Momentum & ETF Forecast
First Trust Dorsey Wright Momentum & ETF downgraded from Buy Candidate to Sell Candidate after Wednesday trading session.
(Updated on May 29, 2024)
The First Trust Dorsey Wright Momentum & ETF price fell by -0.83% on the last day (Wednesday, 29th May 2024) from $33.38 to $33.10. During the last trading day the ETF fluctuated 0.151% from a day low at $33.07 to a day high of $33.12. The price has fallen in 6 of the last 10 days and is down by -2.12% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $51.94 thousand.
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 2.52% during the next 3 months and, with a 90% probability hold a price between $33.23 and $35.53 at the end of this 3-month period.
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DDIV Signals & Forecast
There are few to no technical positive signals at the moment. The First Trust Dorsey Wright Momentum & ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $33.57 and $33.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -3.07%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -7.98% to $30.46 within 33 trading days since signal was issued (Thursday, May 30, 2024).
Support, Risk & Stop-loss for First Trust Dorsey Wright Momentum & ETF
First Trust Dorsey Wright Momentum & finds support from accumulated volume at $32.39 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 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 $0.0500 between high and low, or 0.151%. For the last week the ETF has had daily average volatility of 0.647%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DDIV) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect First Trust Dorsey Wright Momentum & Dividend ETF to open at $33.10, and during the day (based on 14 day Average True Range), to move between $32.82 and $33.39, which gives a possible trading interval of +/-$0.285 (+/-0.86%) up or down from last closing price. If First Trust Dorsey Wright Momentum & Dividend ETF takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.17 (0.21%) than the support at $32.39 (2.14%), 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 Dorsey Wright Momentum & Dividend ETF ETF A Buy?
The First Trust Dorsey Wright Momentum & ETF holds several negative signals and despite the positive trend, we believe First Trust Dorsey Wright Momentum & will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -1.119 Sell Candidate Downgraded
Predicted Opening Price for First Trust Dorsey Wright Momentum & Dividend ETF of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| $33.10 ( 0.0145%) | $33.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DDIV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.15 | 0.137 % | |
| R2 | 33.13 | 0.0788 % | ||
| R1 | 33.12 | 0.0432 % | ||
| Current price: | 33.10 | |||
| Support | S1 | 33.08 | -0.0722 % | |
| S2 | 33.07 | -0.108 % | ||
| S3 | 33.05 | -0.166 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.54 | 1.33 % | |
| R2 | 33.30 | 0.595 % | ||
| R1 | 33.17 | 0.211 % | ||
| Current price | 33.10 | |||
| Support | S1 | 32.39 | -2.14% | |
| S2 | 32.38 | -2.17% | ||
| S3 | 32.22 | -2.67% |
DDIV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.136 | 0.400% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.347 | 1.14% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.191 | 0.687% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.189 | 0.667% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.240 | 0.87% |
FAQ
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