First Trust Specialty Finance and Stock Forecast

First Trust Specialty Finance and stock price up 0.212% on Thursday
(Updated on Apr 18, 2024)

FGB Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.639%. 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 Specialty Finance and stock 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 $3.57 and $3.64. 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). 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 $3.53 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 $0.0200 between high and low, or 0.565%. For the last week the stock has had daily average volatility of 1.85%

First Trust Specialty Finance and is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $3.33 (-5.86%) (This stock has low daily movements and this gives low risk. Low RSI14 is 21 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)

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

For the upcoming trading day on Friday, 19th we expect First Trust Specialty Finance and Financial Opportunities Fund to open at $3.55, and during the day (based on 14 day Average True Range), to move between $3.49 and $3.60, which gives a possible trading interval of +/-$0.0568 (+/-1.60%) 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 3.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.55 (0.21%) than the support at $3.53 (0.35%), 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 Specialty Finance and Financial Opportunities Fund stock A Buy?

First Trust Specialty Finance and 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.

Current score: 0.958 Hold/Accumulate Unchanged

Predicted Opening Price for First Trust Specialty Finance and Financial Opportunities Fund of Friday, April 19, 2024

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