First Trust Eurozone AlphaDEX ETF Forecast
First Trust Eurozone AlphaDEX ETF downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The First Trust Eurozone AlphaDEX ETF price gained 0.425% on the last trading day (Wednesday, 27th Mar 2024), rising from $42.33 to $42.51. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.200% from a day low at $42.43 to a day high of $42.51. The price has risen in 7 of the last 10 days and is up by 2.71% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 972 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately $51.99 thousand.
The ETF has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $41.48, a level that may pose a second chance to hit a runner. According to fan-theory $42.92 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FEUZ Signals & Forecast
The First Trust Eurozone 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 $42.11 and $40.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 9.00%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). First Trust Eurozone 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for First Trust Eurozone AlphaDEX ETF
First Trust Eurozone AlphaDEX finds support from accumulated volume at $41.62 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 $0.0849 between high and low, or 0.200%. For the last week the ETF has had daily average volatility of 0.250%.
The First Trust Eurozone AlphaDEX ETF is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.
Our recommended stop-loss: $40.96 (-3.64%) (This ETF has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FEUZ) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect First Trust Eurozone AlphaDEX ETF to open at $42.48, and during the day (based on 14 day Average True Range), to move between $42.20 and $42.82, which gives a possible trading interval of +/-$0.306 (+/-0.72%) up or down from last closing price. If First Trust Eurozone AlphaDEX ETF takes out the full calculated possible swing range there will be an estimated 1.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $41.62, some $0.89 (2.09%) from the current price of $42.51, our system finds the risk reward attractive.
Is First Trust Eurozone AlphaDEX ETF ETF A Buy?
First Trust Eurozone AlphaDEX 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for First Trust Eurozone AlphaDEX ETF of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$42.48 ( 0.0666%) | $42.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEUZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.57 | 0.133 % | |
R2 | 42.53 | 0.0569 % | ||
R1 | 42.51 | 0.0097 % | ||
Current price: | 42.51 | |||
Support | S1 | 42.45 | -0.143 % | |
S2 | 42.43 | -0.190 % | ||
S3 | 42.40 | -0.266 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 42.51 | |||
Support | S1 | 41.62 | -2.09% | |
S2 | 40.69 | -4.29% | ||
S3 | 40.56 | -4.59% |
FEUZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.193 | 0.475% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.101 | 0.271% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.91 | 2.30% |
4 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.0410 | 0.115% |
5 | Sep 22, 2022 | Sep 23, 2022 | Sep 30, 2022 | $0.107 | 0.369% |
FAQ
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