Fidelity Low Volatility Factor ETF Forecast
Fidelity Low Volatility Factor ETF price up 0.329% on Friday
(Updated on May 17, 2024)
The Fidelity Low Volatility Factor ETF price gained 0.329% on the last trading day (Friday, 17th May 2024), rising from $56.32 to $56.50. It has now gained 4 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 0.407% from a day low at $56.27 to a day high of $56.50. The price has risen in 8 of the last 10 days and is up by 3.22% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 51 thousand shares were bought and sold for approximately $2.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $55.99 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach $58.37 sometime during the next 3 months.
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FDLO Signals & Forecast
Mostly positive signals in the chart today. The Fidelity Low Volatility Factor 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 $56.02 and $54.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 5.18%. Further rise is indicated until a new top 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 Low Volatility Factor ETF
Fidelity Low Volatility Factor finds support from accumulated volume at $56.02 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 $0.229 between high and low, or 0.407%. For the last week the ETF has had daily average volatility of 0.420%.
The Fidelity Low Volatility Factor ETF is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.
Our recommended stop-loss: $53.79 (-4.80%) (This ETF has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (FDLO) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fidelity Low Volatility Factor ETF to open at $56.42, and during the day (based on 14 day Average True Range), to move between $56.14 and $56.86, which gives a possible trading interval of +/-$0.363 (+/-0.64%) up or down from last closing price. If Fidelity Low Volatility Factor ETF takes out the full calculated possible swing range there will be an estimated 1.29% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $56.02, some $0.480 (0.85%) from the current price of $56.50, our system finds the risk reward attractive.
Is Fidelity Low Volatility Factor ETF ETF A Buy?
Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Fidelity Low Volatility Factor ETF to perform well in the short-term period.
Current score: 1.882 Buy Candidate Unchanged
Predicted Opening Price for Fidelity Low Volatility Factor ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $56.42 ( 0.135%) | $56.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.65 | 0.270 % | |
| R2 | 56.57 | 0.115 % | ||
| R1 | 56.51 | 0.0197 % | ||
| Current price: | 56.50 | |||
| Support | S1 | 56.34 | -0.290 % | |
| S2 | 56.28 | -0.386 % | ||
| S3 | 56.19 | -0.541 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 56.50 | |||
| Support | S1 | 56.02 | -0.85% | |
| S2 | 55.32 | -2.09% | ||
| S3 | 54.14 | -4.18% |
FDLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.229 | 0.409% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.155 | 0.296% |
| 3 | Sep 14, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.181 | 0.362% |
| 4 | Jun 15, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.170 | 0.343% |
| 5 | Mar 16, 2023 | Mar 17, 2023 | Mar 22, 2023 | $0.210 | 0.461% |
FAQ
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