First Trust Exchange-traded Fun Trust Forecast
First Trust Exchange-traded Fun trust upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)
The First Trust Exchange-traded Fun trust price fell by -0.269% on the last day (Thursday, 27th Jun 2024) from $18.58 to $18.53. It has now fallen 3 days in a row. During the last trading day the trust fluctuated 0.543% from a day low at $18.46 to a day high of $18.56. The price has fallen in 7 of the last 10 days but is still up by 0.22% over the past 2 weeks. Volume has increased on the last day by 73 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, 187 thousand shares were bought and sold for approximately $3.47 million.
The trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust Exchange-traded Fun trust with a 90% probability to be traded between $18.29 and $18.85 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EIPI Signals & Forecast
There are mixed signals in the trust today. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.91%. 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 rose on falling prices yesterday. This may be an early warning and the trust should be followed more closely. The First Trust Exchange-traded Fun trust 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 $18.52 and $18.47. A breakdown below any of these levels will issue sell signals. The trust had a Golden Star Signal on Friday, June 21, 2024 in the short-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 trust in question.
Golden Star
The trust had a Golden Star Signal on Friday, June 21, 2024 in the short-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 trust in question.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -1.58% to $18.24 within 15 trading days since signal was issued (Tuesday, July 16, 2024).
Support, Risk & Stop-loss for First Trust Exchange-traded Fun trust
First Trust Exchange-traded Fun finds support from accumulated volume at $18.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.100 between high and low, or 0.543%. For the last week the trust has had daily average volatility of 0.96%.
Our recommended stop-loss: $17.93 (-3.22%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (EIPI) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect First Trust Exchange-traded Fun to open at $18.52, and during the day (based on 14 day Average True Range), to move between $18.35 and $18.71, which gives a possible trading interval of +/-$0.181 (+/-0.98%) up or down from last closing price. If First Trust Exchange-traded Fun takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.54 (0.05%) than the support at $18.52 (0.05%), 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 Exchange-traded Fun trust A Buy?
First Trust Exchange-traded Fun 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. We have upgraded our analysis conclusion for this trust since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.389 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Exchange-traded Fun of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $18.52 ( 0.0714%) | $18.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIPI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.62 | 0.470% |
| R2 | 18.58 | 0.263% |
| R1 | 18.56 | 0.135% |
| Price | 18.53 | |
| S1 | 18.48 | -0.278% |
| S2 | 18.45 | -0.406% |
| S3 | 18.42 | -0.613% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.75 | 1.19% |
| R2 | 18.58 | 0.270% |
| R1 | 18.54 | 0.0540% |
| Price | 18.53 | |
| S1 | 18.52 | -0.0540% |
| S2 | 18.49 | -0.216% |
| S3 | 18.36 | -0.92% |
EIPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 21, 2024 | May 31, 2024 | $0.125 | 0.667% |
FAQ
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