FIRST TRUST SSI STRATEGIC CS ETF Forecast
FIRST TRUST SSI STRATEGIC CS ETF upgraded to Hold/Accumulate.
(Updated on May 01, 2024)
The FIRST TRUST SSI STRATEGIC CS ETF price fell by -0.485% on the last day (Wednesday, 1st May 2024) from $32.98 to $32.82. During the last trading day the ETF fluctuated 2.53% from a day low at $32.40 to a day high of $33.22. The price has been going up and down for this period, and there has been a 0.4% gain for the last 2 weeks. Volume has increased on the last day by 61 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 98 thousand shares were bought and sold for approximately $3.20 million.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $32.50 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect FIRST TRUST SSI STRATEGIC CS ETF with a 90% probability to be traded between $32.53 and $34.23 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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FCVT Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.98%. 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. The FIRST TRUST SSI STRATEGIC CS 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 $33.07 and $33.42. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for FIRST TRUST SSI STRATEGIC CS ETF
FIRST TRUST SSI STRATEGIC CS finds support from accumulated volume at $32.73 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 $0.82 between high and low, or 2.53%. For the last week the ETF has had daily average volatility of 1.26%.
Our recommended stop-loss: $31.15 (-5.08%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (FCVT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect FIRST TRUST SSI STRATEGIC CONVERTIBLE SECURITIES ETF to open at $32.81, and during the day (based on 14 day Average True Range), to move between $32.45 and $33.19, which gives a possible trading interval of +/-$0.369 (+/-1.12%) up or down from last closing price. If FIRST TRUST SSI STRATEGIC CONVERTIBLE SECURITIES ETF takes out the full calculated possible swing range there will be an estimated 2.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.73 (0.27%) than the resistance at $33.10 (0.85%), 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 SSI STRATEGIC CONVERTIBLE SECURITIES ETF ETF A Buy?
FIRST TRUST SSI STRATEGIC CS holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.307 Hold/Accumulate Upgraded
Predicted Opening Price for FIRST TRUST SSI STRATEGIC CONVERTIBLE SECURITIES ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $32.81 ( 0.0203%) | $32.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCVT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.63 | 2.48 % | |
| R2 | 33.32 | 1.52 % | ||
| R1 | 33.13 | 0.93 % | ||
| Current price: | 32.82 | |||
| Support | S1 | 32.50 | -0.97 % | |
| S2 | 32.31 | -1.56 % | ||
| S3 | 31.99 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.57 | 2.29 % | |
| R2 | 33.37 | 1.68 % | ||
| R1 | 33.10 | 0.85 % | ||
| Current price | 32.82 | |||
| Support | S1 | 32.73 | -0.274% | |
| S2 | 32.69 | -0.396% | ||
| S3 | 32.50 | -0.98% |
FCVT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0400 | 0.117% |
| 2 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0400 | 0.120% |
| 3 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0400 | 0.122% |
| 4 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.147 | 0.442% |
| 5 | Nov 20, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.0400 | 0.127% |
FAQ
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