First Trust Asia Pacific Ex-Japan ETF Forecast

Green day on Friday for First Trust Asia Pacific Ex-Japan
(Updated on Apr 19, 2024)

FPA Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.55%. Further rise is indicated until a new top pivot has been found. First Trust Asia Pacific Ex-Japan has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Asia Pacific Ex-Japan ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $27.33. On a fall, the ETF will find some support from the short-term average at $26.17. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for First Trust Asia Pacific Ex-Japan ETF

First Trust Asia Pacific Ex-Japan finds support from accumulated volume at $26.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.280 (1.08%) between high and low. For the last week, the ETF has had daily average volatility of 0.80%.

Our recommended stop-loss: $24.71 (-5.77%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (FPA) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect First Trust Asia Pacific Ex-Japan AlphaDEX Fund to open at $26.13, and during the day (based on 14 day Average True Range), to move between $25.90 and $26.54, which gives a possible trading interval of +/-$0.322 (+/-1.23%) up or down from last closing price. If First Trust Asia Pacific Ex-Japan AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.01 (0.80%) than the resistance at $26.97 (2.86%), 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 Asia Pacific Ex-Japan AlphaDEX Fund ETF A Buy?

First Trust Asia Pacific Ex-Japan holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.056 Hold/Accumulate Unchanged

Predicted Opening Price for First Trust Asia Pacific Ex-Japan AlphaDEX Fund of Monday, April 22, 2024

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