First Trust Stock Forecast
First Trust stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jul 03, 2024)
The First Trust stock price gained 0.350% on the last trading day (Wednesday, 3rd Jul 2024), rising from $11.81 to $11.85. During the last trading day the stock fluctuated 0.327% from a day low at $11.85 to a day high of $11.89. The price has fallen in 5 of the last 10 days and is down by -1.12% for this period. Volume fell on the last day by -2 thousand shares and in total, 1 thousand shares were bought and sold for approximately $11.95 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 stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust stock with a 90% probability to be traded between $11.65 and $12.22 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FMY Signals & Forecast
There are few to no technical positive signals at the moment. The First Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $11.89 and $11.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -1.73%. 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). 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. The stock had a Golden Star Signal on Friday, June 07, 2024 in the long-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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, June 07, 2024 in the long-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 stock in question.
A sell signal from a double top formation was found on Monday, June 17, 2024 and based on theory for this formation the price should fall by -4.67% to $11.30 within 20 trading days (Wednesday, July 17, 2024) since signal was issued.
Support, Risk & Stop-loss for First Trust stock
First Trust finds support from accumulated volume at $11.83 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 $0.0387 between high and low, or 0.327%. For the last week the stock has had daily average volatility of 0.709%
Our recommended stop-loss: $11.40 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (FMY) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect First Trust to open at $11.86, and during the day (based on 14 day Average True Range), to move between $11.71 and $11.99, which gives a possible trading interval of +/-$0.137 (+/-1.16%) up or down from last closing price. If First Trust takes out the full calculated possible swing range there will be an estimated 2.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.83 (0.18%) than the resistance at $11.91 (0.50%), 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 stock A Buy?
First Trust 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 stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.742 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $11.86 ( 0.109%) | $11.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.90 | 0.435% |
| R2 | 11.89 | 0.311% |
| R1 | 11.88 | 0.234% |
| Price | 11.85 | |
| S1 | 11.85 | -0.0159% |
| S2 | 11.84 | -0.0930% |
| S3 | 11.83 | -0.218% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.00 | 1.25% |
| R2 | 11.98 | 1.04% |
| R1 | 11.91 | 0.495% |
| Price | 11.85 | |
| S1 | 11.83 | -0.180% |
| S2 | 11.77 | -0.686% |
| S3 | 11.62 | -1.95% |
FMY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 17, 2024 | $0.0825 | 0.684% |
| 2 | May 01, 2024 | May 01, 2024 | May 15, 2024 | $0.0825 | 0.688% |
| 3 | Apr 01, 2024 | Apr 01, 2024 | Apr 15, 2024 | $0.0825 | 0.710% |
| 4 | Feb 20, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.0825 | 0.689% |
| 5 | Jan 22, 2024 | Feb 01, 2024 | Feb 15, 2024 | $0.0825 | 0.699% |
FAQ
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