First Trust IPOX Europe Equity ETF Forecast

Red day on Friday for First Trust IPOX Europe Equity ETF after losing 0.140%
(Updated on May 17, 2024)

FPXE Signals & Forecast

The First Trust IPOX Europe Equity 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 $25.45 and $24.70. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.98%. Further fall is indicated until a new bottom pivot has been found. 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 very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Tuesday, July 11, 2023 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 ETF in question.

Support, Risk & Stop-loss for First Trust IPOX Europe Equity ETF

First Trust IPOX Europe Equity finds support from accumulated volume at $25.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.152%.

Our recommended stop-loss: $24.70 (-3.87%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (FPXE) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect First Trust IPOX Europe Equity Opportunities ETF to open at $25.70, and during the day (based on 14 day Average True Range), to move between $25.49 and $25.90, which gives a possible trading interval of +/-$0.207 (+/-0.81%) up or down from last closing price. If First Trust IPOX Europe Equity Opportunities ETF takes out the full calculated possible swing range there will be an estimated 1.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $25.73 (0.14%) than the support at $25.20 (1.95%), 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 First Trust IPOX Europe Equity Opportunities ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for First Trust IPOX Europe Equity ETF to perform well in the short-term period.

Current score: 2.364 Buy Candidate Unchanged

Predicted Opening Price for First Trust IPOX Europe Equity Opportunities ETF of Monday, May 20, 2024

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