FT Cboe Vest U.S. Equity Buffer - ETF Forecast

Stronger technical forecast for FT Cboe Vest U.S. Equity Buffer - ETF price after Thursday trading.
(Updated on May 30, 2024)

FNOV Signals & Forecast

The FT Cboe Vest U.S. Equity Buffer - 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 $45.35. On a fall, the ETF will find some support from the long-term average at approximately $44.68. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.352%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Thursday, May 02, 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 FT Cboe Vest U.S. Equity Buffer - ETF

FT Cboe Vest U.S. Equity Buffer - finds support from accumulated volume at $44.61 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 $0.155 between high and low, or 0.343%. For the last week the ETF has had daily average volatility of 0.281%

Our recommended stop-loss: $43.58 (-3.76%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (FNOV) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect FT Cboe Vest U.S. Equity Buffer ETF - November to open at $45.30, and during the day (based on 14 day Average True Range), to move between $45.11 and $45.45, which gives a possible trading interval of +/-$0.173 (+/-0.38%) up or down from last closing price. If FT Cboe Vest U.S. Equity Buffer ETF - November takes out the full calculated possible swing range there will be an estimated 0.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $45.29 (0.02%) than the support at $44.61 (1.48%), 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 FT Cboe Vest U.S. Equity Buffer ETF - November 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 FT Cboe Vest U.S. Equity Buffer - 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: 1.785 Buy Candidate Upgraded

Predicted Opening Price for FT Cboe Vest U.S. Equity Buffer ETF - November of Friday, May 31, 2024

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