First Trust Nasdaq Lux Digital Health ETF Forecast

Red day on Friday for First Trust Nasdaq Lux Digital Health ETF after losing 0.0234%
(Updated on Jun 21, 2024)

EKG Signals & Forecast

There are mixed signals in the ETF today. The First Trust Nasdaq Lux Digital Health ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $15.92 and $16.08. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 1.32%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for First Trust Nasdaq Lux Digital Health ETF

First Trust Nasdaq Lux Digital Health finds support from accumulated volume at $15.72 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 $0.0362 between high and low, or 0.230%. For the last week the ETF has had daily average volatility of 0.367%

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

Trading Expectations (EKG) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect First Trust Nasdaq Lux Digital Health Solutions Etf to open at $15.76, and during the day (based on 14 day Average True Range), to move between $15.62 and $15.93, which gives a possible trading interval of +/-$0.153 (+/-0.97%) up or down from last closing price. If First Trust Nasdaq Lux Digital Health Solutions Etf takes out the full calculated possible swing range there will be an estimated 1.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.72 (0.36%) than the resistance at $16.23 (2.88%), 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 Nasdaq Lux Digital Health Solutions Etf ETF A Buy?

First Trust Nasdaq Lux Digital Health holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -2.256 Sell Candidate Unchanged

Predicted Opening Price for First Trust Nasdaq Lux Digital Health Solutions Etf of Monday, June 24, 2024

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