First Trust Specialty Finance and Stock Forecast
Green day on Tuesday for First Trust Specialty Finance and stock after gaining 0.508%
(Updated on Jul 02, 2024)
The First Trust Specialty Finance and stock price gained 0.508% on the last trading day (Tuesday, 2nd Jul 2024), rising from $3.92 to $3.94. It has now gained 4 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 stock fluctuated 1.28% from a day low at $3.90 to a day high of $3.95. The price has risen in 7 of the last 10 days and is up by 2.87% over the past 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 13 thousand shares were bought and sold for approximately $51.63 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.25% during the next 3 months and, with a 90% probability hold a price between $4.10 and $4.39 at the end of this 3-month period.
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FGB Signals & Forecast
The First Trust Specialty Finance and stock 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 $3.89 and $3.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 5.34%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for First Trust Specialty Finance and stock
First Trust Specialty Finance and finds support from accumulated volume at $3.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock 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 stock During the last day, the stock moved $0.0500 between high and low, or 1.28%. For the last week the stock has had daily average volatility of 1.80%
Our recommended stop-loss: $3.76 (-4.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (FGB) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect First Trust Specialty Finance and Financial Opportunities Fund to open at $3.93, and during the day (based on 14 day Average True Range), to move between $3.86 and $4.02, which gives a possible trading interval of +/-$0.0777 (+/-1.97%) up or down from last closing price. If First Trust Specialty Finance and Financial Opportunities Fund takes out the full calculated possible swing range there will be an estimated 3.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.89, some $0.0499 (1.27%) from the current price of $3.94, our system finds the risk reward attractive.
Is First Trust Specialty Finance and Financial Opportunities Fund stock 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 Specialty Finance and stock to perform well in the short-term.
Current score: 4.841 Buy Candidate Unchanged
Predicted Opening Price for First Trust Specialty Finance and Financial Opportunities Fund of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.93 ( 0.252%) | $3.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGB
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.98 | 1.02% |
| R2 | 3.96 | 0.532% |
| R1 | 3.95 | 0.233% |
| Price | 3.94 | |
| S1 | 3.91 | -0.737% |
| S2 | 3.90 | -1.04% |
| S3 | 3.88 | -1.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 3.94 | |
| S1 | 3.89 | -1.27% |
| S2 | 3.85 | -2.28% |
| S3 | 3.80 | -3.55% |
FGB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 31, 2024 | $0.100 | 2.60% |
| 2 | Feb 12, 2024 | Feb 22, 2024 | Feb 29, 2024 | $0.0825 | 2.25% |
| 3 | Nov 13, 2023 | Nov 22, 2023 | Dec 01, 2023 | $0.0830 | 2.44% |
| 4 | Aug 10, 2023 | Aug 22, 2023 | Aug 31, 2023 | $0.0830 | 2.47% |
| 5 | May 10, 2023 | May 22, 2023 | May 31, 2023 | $0.0830 | 2.81% |
FAQ
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