First Trust IPOX Europe Equity ETF Forecast

Red day on Friday for First Trust IPOX Europe Equity
(Updated on Jun 14, 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 $26.08. On a fall, the ETF will find some support from the long-term average at approximately $25.49. 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 Wednesday, June 12, 2024, and so far it has fallen -2.98%. 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 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 $25.74 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 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 $0.0953 between high and low, or 0.371%. For the last week the ETF has had daily average volatility of 0.295%

Our recommended stop-loss: $24.41 (-5.21%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (FPXE) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect First Trust IPOX Europe Equity Opportunities ETF to open at $25.72, and during the day (based on 14 day Average True Range), to move between $25.47 and $26.03, which gives a possible trading interval of +/-$0.279 (+/-1.08%) 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 2.17% 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 (0.04%) than the resistance at $25.95 (0.78%), 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?

First Trust IPOX Europe Equity 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: -0.386 Hold/Accumulate Unchanged

Predicted Opening Price for First Trust IPOX Europe Equity Opportunities ETF of Monday, June 17, 2024

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