FIRST TRUST MORNINGSTAR MANAGED FUTURES ETF Forecast
FIRST TRUST MORNINGSTAR MANAGED FUTURES ETF upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The FIRST TRUST MORNINGSTAR MANAGED FUTURES ETF price gained 0.513% on the last trading day (Friday, 28th Jun 2024), rising from $48.42 to $48.66. During the last trading day the ETF fluctuated 0.722% from a day low at $48.45 to a day high of $48.80. The price has been going up and down for this period, and there has been a 0.48% gain for the last 2 weeks. Volume fell on the last day by -221 shares and in total, 14 thousand shares were bought and sold for approximately $667.92 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 ETF lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -3.82% during the next 3 months and, with a 90% probability hold a price between $45.79 and $47.18 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FMF Signals & Forecast
The FIRST TRUST MORNINGSTAR MANAGED FUTURES ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $48.79. On a fall, the ETF will find some support from the long-term average at approximately $48.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 1.07%. 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. The ETF had a Golden Star Signal on Thursday, June 20, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Thursday, June 20, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for FIRST TRUST MORNINGSTAR MANAGED FUTURES ETF
FIRST TRUST MORNINGSTAR MANAGED FUTURES finds support from accumulated volume at $48.63 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 $0.350 between high and low, or 0.722%. For the last week the ETF has had daily average volatility of 0.88%
Our recommended stop-loss: $46.09 (-5.29%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (FMF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND to open at $48.64, and during the day (based on 14 day Average True Range), to move between $48.25 and $49.08, which gives a possible trading interval of +/-$0.412 (+/-0.85%) up or down from last closing price. If FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND takes out the full calculated possible swing range there will be an estimated 1.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $48.63 (0.08%) than the resistance at $48.74 (0.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.364 Buy Candidate Upgraded
Predicted Opening Price for FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$48.64 ( 0.0543%) | $48.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 48.99 | 0.665% |
R2 | 48.85 | 0.390% |
R1 | 48.77 | 0.220% |
Price | 48.66 | |
S1 | 48.50 | -0.329% |
S2 | 48.42 | -0.499% |
S3 | 48.29 | -0.773% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 50.41 | 3.58% |
R2 | 50.07 | 2.89% |
R1 | 48.74 | 0.146% |
Price | 48.66 | |
S1 | 48.63 | -0.0816% |
S2 | 48.61 | -0.112% |
S3 | 48.32 | -0.719% |
FMF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.347 | 0.686% |
2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.414 | 0.89% |
3 | Dec 23, 2022 | Sep 22, 2023 | Sep 29, 2023 | $0.379 | 0.774% |
4 | Dec 23, 2022 | Jun 27, 2023 | Jun 30, 2023 | $0.351 | 0.734% |
5 | Dec 23, 2022 | Mar 24, 2023 | Mar 31, 2023 | $0.281 | 0.598% |
FAQ
Click here for our free guide on how to buy FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND FIRST TRUST MORNINGSTAR MANAGED FUTURES STRATEGY FUND ETF.