First Trust Dow Jones Global Select ETF Forecast
Green day on Friday for First Trust Dow Jones Global Select
(Updated on May 03, 2024)
The First Trust Dow Jones Global Select ETF price gained 0.529% on the last trading day (Friday, 3rd May 2024), rising from $22.70 to $22.82. During the last trading day the ETF fluctuated 0.571% from a day low at $22.78 to a day high of $22.91. The price has risen in 6 of the last 10 days and is up by 3.87% over the past 2 weeks. Volume fell on the last day by -23 thousand shares and in total, 44 thousand shares were bought and sold for approximately $1.01 million. 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 ETF lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $22.95 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 2.49% during the next 3 months and, with a 90% probability hold a price between $22.32 and $23.52 at the end of this 3-month period.
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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. 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 $22.62 and $22.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.36%. 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 also not.
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 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 ETF During the last day, the ETF moved $0.130 between high and low, or 0.571%. For the last week the ETF has had daily average volatility of 0.772%
Our recommended stop-loss: $21.83 (-4.35%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (FGD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect First Trust Dow Jones Global Select Dividend Index Fund to open at $22.84, and during the day (based on 14 day Average True Range), to move between $22.58 and $23.06, which gives a possible trading interval of +/-$0.244 (+/-1.07%) 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 2.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $22.10, some $0.720 (3.16%) from the current price of $22.82, our system finds the risk reward attractive.
Is First Trust Dow Jones Global Select Dividend Index Fund ETF 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 Dow Jones Global Select ETF to perform well in the short-term.
Current score: 4.033 Buy Candidate Unchanged
Predicted Opening Price for First Trust Dow Jones Global Select Dividend Index Fund of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $22.84 ( 0.0730%) | $22.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FGD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.97 | 0.643 % | |
| R2 | 22.92 | 0.425 % | ||
| R1 | 22.89 | 0.291 % | ||
| Current price: | 22.82 | |||
| Support | S1 | 22.79 | -0.145 % | |
| S2 | 22.76 | -0.279 % | ||
| S3 | 22.71 | -0.497 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 22.82 | |||
| Support | S1 | 22.10 | -3.16% | |
| S2 | 21.93 | -3.90% | ||
| S3 | 21.79 | -4.51% |
FGD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0179 | 0.0786% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.466 | 2.09% |
| 3 | Dec 27, 2022 | Sep 22, 2023 | Sep 29, 2023 | $0.241 | 1.17% |
| 4 | Dec 27, 2022 | Jun 27, 2023 | Jun 30, 2023 | $0.618 | 2.88% |
| 5 | Dec 27, 2022 | Mar 24, 2023 | Mar 31, 2023 | $0.109 | 0.493% |
FAQ
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