First Trust Water ETF Forecast

First Trust Water ETF price up 1.03% on Friday
(Updated on May 03, 2024)

FIW Signals & Forecast

Mostly positive signals in the chart today. The First Trust Water 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 $100.36 and $99.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.01%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for First Trust Water ETF

First Trust Water finds support from accumulated volume at $99.48 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 $0.733 between high and low, or 0.719%. For the last week the ETF has had daily average volatility of 1.22%.

Our recommended stop-loss: $97.71 (-4.60%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (FIW) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect First Trust Water ETF to open at $102.40, and during the day (based on 14 day Average True Range), to move between $101.12 and $103.72, which gives a possible trading interval of +/-$1.30 (+/-1.27%) up or down from last closing price. If First Trust Water ETF takes out the full calculated possible swing range there will be an estimated 2.54% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $99.48, some $2.94 (2.87%) from the current price of $102.42, our system finds the risk reward attractive.

Is First Trust Water ETF ETF A Buy?

First Trust Water holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.004 Strong Buy Candidate Unchanged

Predicted Opening Price for First Trust Water ETF of Monday, May 6, 2024

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