First Trust Dorsey Wright Momentum & Low ETF Forecast

Weaker technical forecast for First Trust Dorsey Wright Momentum & Low as ETF downgraded to Sell Candidate.
(Updated on Jun 28, 2024)

DVOL Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Dorsey Wright Momentum & Low 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 $30.55 and $30.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.81%. Further fall is indicated until a new bottom pivot has been found. First Trust Dorsey Wright Momentum & Low 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". The ETF had a Golden Star Signal on Tuesday, September 12, 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 Dorsey Wright Momentum & Low ETF

First Trust Dorsey Wright Momentum & Low finds support from accumulated volume at $30.13 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 $0.178 between high and low, or 0.587%. For the last week the ETF has had daily average volatility of 0.397%.

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

Trading Expectations (DVOL) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect First Trust Dorsey Wright Momentum & Low Volatility Etf to open at $30.33, and during the day (based on 14 day Average True Range), to move between $30.07 and $30.47, which gives a possible trading interval of +/-$0.199 (+/-0.66%) up or down from last closing price. If First Trust Dorsey Wright Momentum & Low Volatility Etf takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $30.34 (0.22%) than the support at $30.13 (0.47%), 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 & Low Volatility Etf ETF A Buy?

The First Trust Dorsey Wright Momentum & Low ETF holds several negative signals and despite the positive trend, we believe First Trust Dorsey Wright Momentum & Low 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 Hold/Accumulate to a Sell candidate.

Current score: -1.526 Sell Candidate Downgraded

Predicted Opening Price for First Trust Dorsey Wright Momentum & Low Volatility Etf of Monday, July 1, 2024

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