First Trust Dow Jones Internet Index ETF Forecast
Green day on Wednesday for First Trust Dow Jones Internet Index
(Updated on May 01, 2024)
The First Trust Dow Jones Internet Index ETF price gained 0.99% on the last trading day (Wednesday, 1st May 2024), rising from $195.13 to $197.06. During the last trading day the ETF fluctuated 2.97% from a day low at $195.81 to a day high of $201.62. The price has fallen in 6 of the last 10 days and is down by -0.01% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 650 thousand more shares were traded than the day before. In total, 912 thousand shares were bought and sold for approximately $179.64 million.
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 Dow Jones Internet Index ETF with a 90% probability to be traded between $191.61 and $206.33 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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FDN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.15%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Dow Jones Internet Index 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 $197.41 and $201.79. 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).
Support, Risk & Stop-loss for First Trust Dow Jones Internet Index ETF
First Trust Dow Jones Internet Index finds support from accumulated volume at $195.13 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 $5.81 (2.97%) between high and low. For the last week, the ETF has had daily average volatility of 2.07%.
Our recommended stop-loss: $185.66 (-5.78%) (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 (FDN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect First Trust Dow Jones Internet Index Fund to open at $198.16, and during the day (based on 14 day Average True Range), to move between $192.97 and $201.15, which gives a possible trading interval of +/-$4.09 (+/-2.08%) up or down from last closing price. If First Trust Dow Jones Internet Index Fund takes out the full calculated possible swing range there will be an estimated 4.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $195.13 (0.98%) than the resistance at $200.02 (1.50%), 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 Dow Jones Internet Index Fund ETF A Buy?
First Trust Dow Jones Internet Index 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.
Current score: -0.275 Hold/Accumulate Unchanged
Predicted Opening Price for First Trust Dow Jones Internet Index Fund of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $198.16 ( 0.560%) | $197.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 203.97 | 3.51 % | |
| R2 | 201.75 | 2.38 % | ||
| R1 | 200.38 | 1.69 % | ||
| Current price: | 197.06 | |||
| Support | S1 | 195.94 | -0.566 % | |
| S2 | 194.57 | -1.26 % | ||
| S3 | 192.35 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 205.67 | 4.37 % | |
| R2 | 200.07 | 1.53 % | ||
| R1 | 200.02 | 1.50 % | ||
| Current price | 197.06 | |||
| Support | S1 | 195.13 | -0.98% | |
| S2 | 195.02 | -1.04% | ||
| S3 | 192.91 | -2.11% |
FDN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 21, 2011 | Dec 21, 2011 | Dec 21, 2011 | $0.0110 | 0.0347% |
| 2 | Jun 21, 2011 | Jun 21, 2011 | Jun 21, 2011 | $0.0110 | 0.0314% |
| 3 | Dec 21, 2010 | Dec 21, 2010 | Dec 21, 2010 | $0.0390 | 0.111% |
| 4 | Dec 23, 2008 | Dec 23, 2008 | Dec 23, 2008 | $0.0130 | 0.0959% |
| 5 | Jun 23, 2008 | Jun 23, 2008 | Jun 23, 2008 | $0.0370 | 0.158% |
FAQ
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