First Trust Europe AlphaDEX Fund ETF Forecast
Weaker technical forecast for First Trust Europe AlphaDEX Fund as ETF downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The First Trust Europe AlphaDEX Fund ETF price fell by -0.608% on the last day (Thursday, 28th Mar 2024) from $37.81 to $37.58. During the last trading day the ETF fluctuated 0.239% from a day low at $37.58 to a day high of $37.67. The price has risen in 6 of the last 10 days and is up by 1.61% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -42 thousand shares and in total, 16 thousand shares were bought and sold for approximately $595.64 thousand.
The ETF lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $37.84 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.52% during the next 3 months and, with a 90% probability hold a price between $37.67 and $39.93 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FEP Signals & Forecast
The First Trust Europe AlphaDEX Fund 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 $37.47 and $36.48. A breakdown below any of these levels will issue sell signals. 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 Wednesday, March 27, 2024, and so far it has fallen -0.608%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, July 11, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for First Trust Europe AlphaDEX Fund ETF
First Trust Europe AlphaDEX Fund finds support from accumulated volume at $36.47 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0900 between high and low, or 0.239%. For the last week the ETF has had daily average volatility of 0.454%
Our recommended stop-loss: $36.09 (-3.97%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FEP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust Europe AlphaDEX Fund to open at $37.61, and during the day (based on 14 day Average True Range), to move between $37.27 and $37.89, which gives a possible trading interval of +/-$0.312 (+/-0.83%) up or down from last closing price. If First Trust Europe AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.61 (0.08%) than the support at $36.47 (2.95%), 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 Europe AlphaDEX Fund ETF A Buy?
First Trust Europe AlphaDEX Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.944 Hold/Accumulate Downgraded
Predicted Opening Price for First Trust Europe AlphaDEX Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$37.61 ( 0.0798%) | $37.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.70 | 0.319 % | |
R2 | 37.67 | 0.228 % | ||
R1 | 37.64 | 0.171 % | ||
Current price: | 37.58 | |||
Support | S1 | 37.58 | -0.0117 % | |
S2 | 37.55 | -0.0682 % | ||
S3 | 37.52 | -0.160 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 37.81 | 0.612 % | ||
R1 | 37.61 | 0.0798 % | ||
Current price | 37.58 | |||
Support | S1 | 36.47 | -2.95% | |
S2 | 35.68 | -5.05% | ||
S3 | 35.66 | -5.10% |
FEP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.285 | 0.759% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.201 | 0.555% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.101 | 0.306% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.86 | 2.49% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0290 | 0.0834% |
FAQ
Click here for our free guide on how to buy First Trust Europe AlphaDEX Fund ETF.