Fidelity MSCI Financials Index ETF Forecast
Fidelity MSCI Financials Index ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Fidelity MSCI Financials Index ETF price gained 0.187% on the last trading day (Friday, 10th May 2024), rising from $58.76 to $58.87. It has now gained 8 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 0.340% from a day low at $58.81 to a day high of $59.01. The price has risen in 8 of the last 10 days and is up by 2.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 59 thousand shares were bought and sold for approximately $3.49 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.64% during the next 3 months and, with a 90% probability hold a price between $57.53 and $61.74 at the end of this 3-month period.
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FNCL Signals & Forecast
Mostly positive signals in the chart today. The Fidelity MSCI Financials Index 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 $58.00 and $57.68. 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 5.88%. 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 Fidelity MSCI Financials Index ETF
Fidelity MSCI Financials Index finds support from accumulated volume at $58.57 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 $0.200 between high and low, or 0.340%. For the last week the ETF has had daily average volatility of 0.636%.
Since the Fidelity MSCI Financials Index has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $55.70 (-5.38%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (FNCL) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Fidelity MSCI Financials Index ETF to open at $58.89, and during the day (based on 14 day Average True Range), to move between $58.27 and $59.47, which gives a possible trading interval of +/-$0.604 (+/-1.03%) up or down from last closing price. If Fidelity MSCI Financials Index ETF takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.94 (0.12%) than the support at $58.57 (0.51%), 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 Fidelity MSCI Financials Index ETF 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 Fidelity MSCI Financials Index ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.661 Buy Candidate Upgraded
Predicted Opening Price for Fidelity MSCI Financials Index ETF of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$58.89 ( 0.0397%) | $58.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FNCL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.09 | 0.379 % | |
R2 | 59.02 | 0.250 % | ||
R1 | 58.97 | 0.169 % | ||
Current price: | 58.87 | |||
Support | S1 | 58.82 | -0.0900 % | |
S2 | 58.77 | -0.170 % | ||
S3 | 58.69 | -0.300 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 59.40 | 0.90 % | |
R2 | 59.06 | 0.323 % | ||
R1 | 58.94 | 0.119 % | ||
Current price | 58.87 | |||
Support | S1 | 58.57 | -0.510% | |
S2 | 58.28 | -1.00% | ||
S3 | 58.27 | -1.02% |
FNCL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.261 | 0.446% |
2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.229 | 0.433% |
3 | Sep 14, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.244 | 0.505% |
4 | Jun 15, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.272 | 0.592% |
5 | Mar 16, 2023 | Mar 17, 2023 | Mar 22, 2023 | $0.276 | 0.630% |
FAQ
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