First Trust IPOX Europe Equity ETF Forecast

First Trust IPOX Europe Equity ETF price ended at $25.83 on Tuesday, after gaining 0.155%.
(Updated on Jun 25, 2024)

FPXE Signals & Forecast

The First Trust IPOX Europe Equity 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 $25.87. On a fall, the ETF will find some support from the long-term average at approximately $25.77. 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. First Trust IPOX Europe Equity 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -2.68%. 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). 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 $25.74 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 $0.0800 between high and low, or 0.311%. For the last week the ETF has had daily average volatility of 0.383%.

Our recommended stop-loss: $24.46 (-5.32%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (FPXE) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect First Trust IPOX Europe Equity Opportunities ETF to open at $25.80, and during the day (based on 14 day Average True Range), to move between $25.59 and $26.07, which gives a possible trading interval of +/-$0.240 (+/-0.93%) 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 1.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $25.74 (0.35%) than the resistance at $25.95 (0.46%), 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 IPOX Europe Equity Opportunities 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 First Trust IPOX Europe Equity ETF to perform well in the short-term.

Current score: 3.617 Buy Candidate Unchanged

Predicted Opening Price for First Trust IPOX Europe Equity Opportunities ETF of Wednesday, June 26, 2024

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