FIRST TRUST MULTI CAP GROWTH ALPHADEX ETF Forecast
FIRST TRUST MULTI CAP GROWTH ALPHADEX ETF downgraded to Hold/Accumulate
(Updated on Jun 20, 2024)
The FIRST TRUST MULTI CAP GROWTH ALPHADEX ETF price fell by -0.564% on the last day (Thursday, 20th Jun 2024) from $123.20 to $122.51. During the last trading day the ETF fluctuated 1.17% from a day low at $122.01 to a day high of $123.44. The price has fallen in 6 of the last 10 days but is still up by 0.03% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -9 thousand shares and in total, 5 thousand shares were bought and sold for approximately $648.30 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect FIRST TRUST MULTI CAP GROWTH ALPHADEX ETF with a 90% probability to be traded between $117.03 and $126.82 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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FAD Signals & Forecast
The FIRST TRUST MULTI CAP GROWTH ALPHADEX 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 $122.45 and $122.16. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -1.78%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for FIRST TRUST MULTI CAP GROWTH ALPHADEX ETF
FIRST TRUST MULTI CAP GROWTH ALPHADEX finds support from accumulated volume at $121.42 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 $1.43 between high and low, or 1.17%. For the last week the ETF has had daily average volatility of 0.719%
Our recommended stop-loss: $116.72 (-4.72%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (FAD) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect FIRST TRUST MULTI CAP GROWTH ALPHADEX FUND to open at $122.65, and during the day (based on 14 day Average True Range), to move between $121.27 and $123.74, which gives a possible trading interval of +/-$1.23 (+/-1.01%) up or down from last closing price. If FIRST TRUST MULTI CAP GROWTH ALPHADEX FUND takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $122.54 (0.03%) than the support at $121.42 (0.89%), 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 MULTI CAP GROWTH ALPHADEX FUND ETF A Buy?
FIRST TRUST MULTI CAP GROWTH ALPHADEX 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.144 Hold/Accumulate Downgraded
Predicted Opening Price for FIRST TRUST MULTI CAP GROWTH ALPHADEX FUND of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
$122.65 ( 0.120%) | $122.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FAD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 124.08 | 1.29% |
R2 | 123.54 | 0.84% |
R1 | 123.20 | 0.566% |
Price | 122.51 | |
S1 | 122.11 | -0.326% |
S2 | 121.77 | -0.602% |
S3 | 121.22 | -1.05% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 124.60 | 1.71% |
R2 | 123.20 | 0.567% |
R1 | 122.54 | 0.0286% |
Price | 122.51 | |
S1 | 121.42 | -0.89% |
S2 | 121.19 | -1.07% |
S3 | 121.18 | -1.08% |
FAD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.192 | 0.171% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0690 | 0.0689% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.113 | 0.107% |
4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.204 | 0.208% |
5 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.278 | 0.293% |
FAQ
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