First Trust Emerging Markets AlphaDEX ETF Forecast

First Trust Emerging Markets AlphaDEX ETF price ended at $23.63 on Wednesday, after gaining 0.0423%.
(Updated on May 01, 2024)

FEM Signals & Forecast

The First Trust Emerging Markets AlphaDEX 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 $23.45 and $23.19. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -5.82% to $22.26 within 14 trading days since signal was issued (Thursday, May 02, 2024).

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 $0.285 between high and low, or 1.21%. For the last week the ETF has had daily average volatility of 0.96%.

Our recommended stop-loss: $22.59 (-4.38%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (FEM) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect First Trust Emerging Markets AlphaDEX Fund to open at $23.69, and during the day (based on 14 day Average True Range), to move between $23.37 and $23.89, which gives a possible trading interval of +/-$0.257 (+/-1.09%) 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 2.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.74 (0.47%) than the support at $22.83 (3.39%), 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?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Emerging Markets AlphaDEX ETF to perform well in the short-term.

Current score: 3.454 Buy Candidate Unchanged

Predicted Opening Price for First Trust Emerging Markets AlphaDEX Fund of Thursday, May 2, 2024

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