First Trust Energy Income & Growth Fund Stock Forecast
Green day on Thursday for First Trust Energy Income & Growth Fund
(Updated on May 02, 2024)
The First Trust Energy Income & Growth Fund stock price gained 1.20% on the last trading day (Thursday, 2nd May 2024), rising from $15.84 to $16.03. During the last trading day the stock fluctuated 2.03% from a day low at $15.80 to a day high of $16.12. The price has been going up and down for this period, and there has been a -1.66% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 114 thousand shares were bought and sold for approximately $1.83 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $15.86 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.83% during the next 3 months and, with a 90% probability hold a price between $18.37 and $20.00 at the end of this 3-month period.
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FEN Signals & Forecast
There are mixed signals in the stock today. The First Trust Energy Income & Growth Fund stock 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 stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.18. On a fall, the stock will find some support from the short-term average at $16.00. 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 08, 2024, and so far it has fallen -3.26%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Trust Energy Income & Growth Fund stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.83 and $14.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Trust Energy Income & Growth Fund finds support just below today's level at $14.83. If this is broken, then the next support from accumulated volume will be at $14.53 and $14.15.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.320 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FEN) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect First Trust Energy Income & Growth Fund to open at $15.98, and during the day (based on 14 day Average True Range), to move between $15.80 and $16.26, which gives a possible trading interval of +/-$0.225 (+/-1.40%) up or down from last closing price. If First Trust Energy Income & Growth Fund takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.22 (1.15%) than the support at $14.83 (7.49%), 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 Energy Income & Growth Fund stock A Buy?
First Trust Energy Income & Growth Fund 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 stock.
Current score: -1.597 Sell Candidate Unchanged
Predicted Opening Price for First Trust Energy Income & Growth Fund of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$15.98 ( 0.291%) | $16.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.30 | 1.71 % | |
R2 | 16.18 | 0.94 % | ||
R1 | 16.11 | 0.471 % | ||
Current price: | 16.03 | |||
Support | S1 | 15.86 | -1.05 % | |
S2 | 15.79 | -1.52 % | ||
S3 | 15.66 | -2.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.50 | 2.93 % | |
R2 | 16.47 | 2.74 % | ||
R1 | 16.22 | 1.15 % | ||
Current price | 16.03 | |||
Support | S1 | 14.83 | -7.49% | |
S2 | 14.53 | -9.36% | ||
S3 | 14.15 | -11.73% |
FEN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2024 | Apr 26, 2024 | May 02, 2024 | $0.300 | 1.87% |
2 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.400 | 2.53% |
3 | Jan 10, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.300 | 2.06% |
4 | Oct 10, 2023 | Oct 20, 2023 | Oct 31, 2023 | $0.300 | 2.12% |
5 | Jul 10, 2023 | Jul 21, 2023 | Jul 31, 2023 | $0.300 | 2.10% |
FAQ
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