First Trust Dow 30 Equal Weight ETF Forecast
Red day on Thursday for First Trust Dow 30 Equal Weight
(Updated on Apr 25, 2024)
The First Trust Dow 30 Equal Weight ETF price fell by -0.776% on the last day (Thursday, 25th Apr 2024) from $33.31 to $33.05. During the last trading day the ETF fluctuated 1.00% from a day low at $32.72 to a day high of $33.05. The price has risen in 6 of the last 10 days but is still down by -1.15% for this period. Volume has increased on the last day by 209 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 222 thousand shares were bought and sold for approximately $7.35 million.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $32.71 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect First Trust Dow 30 Equal Weight ETF with a 90% probability to be traded between $32.84 and $34.61 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EDOW Signals & Forecast
There are mixed signals in the ETF today. The First Trust Dow 30 Equal Weight 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 $33.62. On a fall, the ETF will find some support from the short-term average at $32.99. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.07%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for First Trust Dow 30 Equal Weight ETF
First Trust Dow 30 Equal Weight finds support from accumulated volume at $33.04 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 $0.328 between high and low, or 1.00%. For the last week the ETF has had daily average volatility of 0.80%.
Our recommended stop-loss: $31.40 (-4.98%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (EDOW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect First Trust Dow 30 Equal Weight ETF to open at $32.94, and during the day (based on 14 day Average True Range), to move between $32.72 and $33.38, which gives a possible trading interval of +/-$0.328 (+/-0.99%) up or down from last closing price. If First Trust Dow 30 Equal Weight ETF takes out the full calculated possible swing range there will be an estimated 1.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.04 (0.03%) than the resistance at $33.11 (0.17%), 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 Dow 30 Equal Weight ETF ETF A Buy?
First Trust Dow 30 Equal Weight holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.849 Hold/Accumulate Unchanged
Predicted Opening Price for First Trust Dow 30 Equal Weight ETF of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$32.94 ( 0.331%) | $33.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDOW
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.27 | 0.663 % | |
R2 | 33.14 | 0.283 % | ||
R1 | 33.07 | 0.0484 % | ||
Current price: | 33.05 | |||
Support | S1 | 32.82 | -0.711 % | |
S2 | 32.74 | -0.95 % | ||
S3 | 32.61 | -1.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.32 | 3.84 % | |
R2 | 33.13 | 0.242 % | ||
R1 | 33.11 | 0.166 % | ||
Current price | 33.05 | |||
Support | S1 | 33.04 | -0.0303% | |
S2 | 33.00 | -0.151% | ||
S3 | 32.89 | -0.473% |
EDOW Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 09, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.145 | 0.420% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.199 | 0.615% |
3 | Dec 27, 2022 | Sep 22, 2023 | Sep 29, 2023 | $0.145 | 0.499% |
4 | Dec 27, 2022 | Jun 27, 2023 | Jun 30, 2023 | $0.141 | 0.468% |
5 | Dec 27, 2022 | Mar 24, 2023 | Mar 31, 2023 | $0.145 | 0.491% |
FAQ
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