Fidelity Clean Energy ETF Forecast
Green day on Thursday for Fidelity Clean Energy
(Updated on May 02, 2024)
The Fidelity Clean Energy ETF price gained 1.52% on the last trading day (Thursday, 2nd May 2024), rising from $14.45 to $14.67. During the last trading day the ETF fluctuated 1.70% from a day low at $14.43 to a day high of $14.67. The price has risen in 6 of the last 10 days and is up by 6.23% over the past 2 weeks. Volume fell on the last day by -261 shares and in total, 6 thousand shares were bought and sold for approximately $81.02 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $14.83 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -4.78% during the next 3 months and, with a 90% probability hold a price between $12.93 and $14.12 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FRNW Signals & Forecast
The Fidelity Clean Energy ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $14.29 and $14.42. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.69%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Thursday, February 15, 2024 and based on theory for this formation the price should fall by -0.680% to $14.57 within 3 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Fidelity Clean Energy ETF
Fidelity Clean Energy finds support from accumulated volume at $14.64 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 controlled movements and therefore the general risk is considered 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 $0.245 between high and low, or 1.70%. For the last week the ETF has had daily average volatility of 1.48%.
Our recommended stop-loss: $14.09 (-3.93%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (FRNW) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Fidelity Clean Energy ETF to open at $14.59, and during the day (based on 14 day Average True Range), to move between $14.40 and $14.94, which gives a possible trading interval of +/-$0.273 (+/-1.86%) up or down from last closing price. If Fidelity Clean Energy ETF takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.64 (0.20%) than the resistance at $14.86 (1.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fidelity Clean Energy ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 1.184 Buy Candidate Unchanged
Predicted Opening Price for Fidelity Clean Energy ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $14.59 ( 0.556%) | $14.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRNW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.83 | 1.11 % | |
| R2 | 14.74 | 0.476 % | ||
| R1 | 14.68 | 0.0817 % | ||
| Current price: | 14.67 | |||
| Support | S1 | 14.49 | -1.19 % | |
| S2 | 14.44 | -1.59 % | ||
| S3 | 14.34 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.03 | 2.45 % | |
| R2 | 14.92 | 1.71 % | ||
| R1 | 14.86 | 1.32 % | ||
| Current price | 14.67 | |||
| Support | S1 | 14.64 | -0.203% | |
| S2 | 14.41 | -1.78% | ||
| S3 | 14.39 | -1.91% |
FRNW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.0150 | 0.102% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.0300 | 0.179% |
| 3 | Sep 14, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.0700 | 0.415% |
| 4 | Jun 15, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.0990 | 0.476% |
| 5 | Mar 16, 2023 | Mar 17, 2023 | Mar 22, 2023 | $0.0260 | 0.123% |
FAQ
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