First Trust Emerging Markets AlphaDEX ETF Forecast

First Trust Emerging Markets AlphaDEX ETF price up 0.698% on Friday
(Updated on Apr 19, 2024)

FEM Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Trust Emerging Markets AlphaDEX has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Emerging Markets AlphaDEX 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 $23.16. On a fall, the ETF will find some support from the short-term average at $23.06. 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 Tuesday, April 09, 2024, and so far it has fallen -3.31%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for First Trust Emerging Markets AlphaDEX ETF

First Trust Emerging Markets AlphaDEX finds support from accumulated volume at $22.83 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 $0.118 between high and low, or 0.514%. For the last week the ETF has had daily average volatility of 0.88%.

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

Trading Expectations (FEM) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect First Trust Emerging Markets AlphaDEX Fund to open at $23.05, and during the day (based on 14 day Average True Range), to move between $22.83 and $23.33, which gives a possible trading interval of +/-$0.245 (+/-1.06%) up or down from last closing price. If First Trust Emerging Markets AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.22 (0.61%) than the support at $22.83 (1.08%), 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 First Trust Emerging Markets AlphaDEX Fund ETF A Buy?

First Trust Emerging Markets AlphaDEX 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: -1.296 Sell Candidate Unchanged

Predicted Opening Price for First Trust Emerging Markets AlphaDEX Fund of Monday, April 22, 2024

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