First Trust Dow Jones Global Select ETF Forecast

First Trust Dow Jones Global Select ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)

FGD Signals & Forecast

The First Trust Dow Jones Global Select ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.19 and $22.41. 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 Tuesday, April 23, 2024, and so far it has fallen -0.488%. 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). First Trust Dow Jones Global Select 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".

Support, Risk & Stop-loss for First Trust Dow Jones Global Select ETF

First Trust Dow Jones Global Select finds support from accumulated volume at $22.10 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 $0.245 between high and low, or 1.10%. For the last week the ETF has had daily average volatility of 0.85%.

Our recommended stop-loss: $21.72 (-3.24%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (FGD) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Trust Dow Jones Global Select Dividend Index Fund to open at $22.39, and during the day (based on 14 day Average True Range), to move between $22.21 and $22.69, which gives a possible trading interval of +/-$0.238 (+/-1.06%) up or down from last closing price. If First Trust Dow Jones Global Select Dividend Index Fund takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.56 (0.49%) than the support at $22.10 (1.56%), 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 Dow Jones Global Select Dividend Index Fund ETF A Buy?

First Trust Dow Jones Global Select 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: -0.142 Hold/Accumulate Upgraded

Predicted Opening Price for First Trust Dow Jones Global Select Dividend Index Fund of Friday, April 26, 2024

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