FIRST TRUST CHINA ALPHADEX FUND ETF Forecast

FIRST TRUST CHINA ALPHADEX FUND ETF upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

FCA Signals & Forecast

The FIRST TRUST CHINA ALPHADEX FUND ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.20 and $19.34. 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 Monday, March 18, 2024, and so far it has fallen -3.09%. Further fall is indicated until a new bottom pivot has been found. 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 CHINA ALPHADEX FUND ETF

FIRST TRUST CHINA ALPHADEX FUND finds support from accumulated volume at $19.33 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 $0.1000 between high and low, or 0.514%. For the last week the ETF has had daily average volatility of 0.730%

Our recommended stop-loss: $18.67 (-3.95%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (FCA) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect FIRST TRUST CHINA ALPHADEX FUND to open at $19.47, and during the day (based on 14 day Average True Range), to move between $19.17 and $19.71, which gives a possible trading interval of +/-$0.268 (+/-1.38%) up or down from last closing price. If FIRST TRUST CHINA ALPHADEX FUND takes out the full calculated possible swing range there will be an estimated 2.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $19.33 (0.57%) than the resistance at $19.59 (0.77%), 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 CHINA ALPHADEX FUND ETF A Buy?

FIRST TRUST CHINA ALPHADEX FUND 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 ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.432 Hold/Accumulate Upgraded

Predicted Opening Price for FIRST TRUST CHINA ALPHADEX FUND of Monday, April 29, 2024

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