Fidelity MSCI Consumer Discretionary ETF Forecast

Fidelity MSCI Consumer Discretionary ETF price up 1.43% on Thursday
(Updated on May 02, 2024)

FDIS Signals & Forecast

There are mixed signals in the ETF today. The Fidelity MSCI Consumer Discretionary ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $79.55. On a fall, the ETF will find some support from the short-term average at $78.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.

Support, Risk & Stop-loss for Fidelity MSCI Consumer Discretionary ETF

Fidelity MSCI Consumer Discretionary finds support from accumulated volume at $77.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $1.03 (1.32%) between high and low. For the last week, the ETF has had daily average volatility of 1.56%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FDIS) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Fidelity MSCI Consumer Discretionary Index ETF to open at $78.61, and during the day (based on 14 day Average True Range), to move between $77.64 and $80.16, which gives a possible trading interval of +/-$1.26 (+/-1.59%) up or down from last closing price. If Fidelity MSCI Consumer Discretionary Index ETF takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $79.66 (0.96%) than the support at $77.54 (1.72%), 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 Fidelity MSCI Consumer Discretionary Index ETF ETF A Buy?

Fidelity MSCI Consumer Discretionary holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.

Current score: -2.357 Sell Candidate Unchanged

Predicted Opening Price for Fidelity MSCI Consumer Discretionary Index ETF of Friday, May 3, 2024

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