First Trust Europe AlphaDEX Fund ETF Forecast

First Trust Europe AlphaDEX Fund ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

FEP Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.366%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Europe AlphaDEX Fund 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 $36.70 and $37.10. 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). First Trust Europe AlphaDEX Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $35.68 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 $0.324 between high and low, or 0.89%. For the last week the ETF has had daily average volatility of 1.15%.

Our recommended stop-loss: $34.39 (-5.25%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (FEP) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect First Trust Europe AlphaDEX Fund to open at $36.38, and during the day (based on 14 day Average True Range), to move between $35.88 and $36.72, which gives a possible trading interval of +/-$0.420 (+/-1.16%) 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 2.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $36.47 (0.47%) than the support at $35.68 (1.70%), 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 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.515 Hold/Accumulate Upgraded

Predicted Opening Price for First Trust Europe AlphaDEX Fund of Friday, April 19, 2024

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