First Trust Exchange-traded Fun ETF Forecast

First Trust Exchange-traded Fun ETF price ended at $23.31 on Friday, after gaining 0.128%.
(Updated on Jun 21, 2024)

EMDM Signals & Forecast

The First Trust Exchange-traded Fun ETF 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 $22.85 and $22.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 4.58%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for First Trust Exchange-traded Fun ETF

First Trust Exchange-traded Fun finds support from accumulated volume at $23.28 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 $1.96 between high and low, or 8.41%. For the last week the ETF has had daily average volatility of 1.90%

Our recommended stop-loss: $22.29 (-4.37%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

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

For the upcoming trading day on Monday, 24th we expect First Trust Exchange-traded Fun to open at $23.96, and during the day (based on 14 day Average True Range), to move between $22.95 and $23.67, which gives a possible trading interval of +/-$0.365 (+/-1.56%) 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 3.13% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $23.28, some $0.0298 (0.13%) from the current price of $23.31, our system finds the risk reward attractive.

Is First Trust Exchange-traded Fun ETF 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for First Trust Exchange-traded Fun of Monday, June 24, 2024

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