First Trust Brazil AlphaDEX Fund ETF Forecast
First Trust Brazil AlphaDEX Fund ETF upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The First Trust Brazil AlphaDEX Fund ETF price gained 0.334% on the last trading day (Wednesday, 27th Mar 2024), rising from $12.10 to $12.14. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.417% from a day low at $12.09 to a day high of $12.14. The price has risen in 6 of the last 10 days and is up by 0.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $27.91 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 Brazil AlphaDEX Fund ETF with a 90% probability to be traded between $11.88 and $12.53 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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FBZ Signals & Forecast
The First Trust Brazil AlphaDEX Fund 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 $12.11 and $11.99. A breakdown below any of these levels will issue sell signals. First Trust Brazil AlphaDEX Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, March 20, 2024, and so far it has fallen -1.21%. 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).
Support, Risk & Stop-loss for First Trust Brazil AlphaDEX Fund ETF
First Trust Brazil AlphaDEX Fund finds support from accumulated volume at $12.13 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 $0.0504 between high and low, or 0.417%. For the last week the ETF has had daily average volatility of 0.263%.
Our recommended stop-loss: $11.61 (-4.36%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FBZ) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect First Trust Brazil AlphaDEX Fund to open at $12.12, and during the day (based on 14 day Average True Range), to move between $12.02 and $12.26, which gives a possible trading interval of +/-$0.119 (+/-0.98%) up or down from last closing price. If First Trust Brazil AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 1.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.13 (0.09%) than the resistance at $12.16 (0.16%), 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 Brazil AlphaDEX Fund ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for First Trust Brazil AlphaDEX Fund ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.123 Buy Candidate Upgraded
Predicted Opening Price for First Trust Brazil AlphaDEX Fund of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$12.12 ( 0.138%) | $12.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FBZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.17 | 0.277 % | |
R2 | 12.15 | 0.118 % | ||
R1 | 12.14 | 0.0202 % | ||
Current price: | 12.14 | |||
Support | S1 | 12.10 | -0.297 % | |
S2 | 12.09 | -0.395 % | ||
S3 | 12.07 | -0.554 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.29 | 1.22 % | |
R2 | 12.21 | 0.613 % | ||
R1 | 12.16 | 0.161 % | ||
Current price | 12.14 | |||
Support | S1 | 12.13 | -0.0857% | |
S2 | 11.91 | -1.90% | ||
S3 | 11.59 | -4.53% |
FBZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0599 | 0.493% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0940 | 0.93% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.344 | 3.12% |
4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.609 | 6.30% |
5 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.102 | 0.97% |
FAQ
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