Alger Mid Cap 40 ETF Forecast
Alger Mid Cap 40 ETF upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Alger Mid Cap 40 ETF price gained 0.798% on the last trading day (Friday, 3rd May 2024), rising from $15.67 to $15.80. During the last trading day the ETF fluctuated 1.02% from a day low at $15.70 to a day high of $15.86. The price has risen in 7 of the last 10 days and is up by 7.89% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately $264.27 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Alger Mid Cap 40 ETF with a 90% probability to be traded between $14.67 and $16.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FRTY Signals & Forecast
Mostly positive signals in the chart today. The Alger Mid Cap 40 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 $15.63 and $15.59. 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 7.89%. 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). Alger Mid Cap 40 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. Higher liquidity also reduces the general risk. The ETF had a Golden Star Signal on Monday, June 05, 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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, June 05, 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 Alger Mid Cap 40 ETF
Alger Mid Cap 40 finds support from accumulated volume at $15.79 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 $0.160 (1.02%) between high and low. For the last week, the ETF has had daily average volatility of 1.55%.
Our recommended stop-loss: $15.12 (-4.24%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (FRTY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Alger Mid Cap 40 ETF to open at $15.79, and during the day (based on 14 day Average True Range), to move between $15.49 and $16.10, which gives a possible trading interval of +/-$0.307 (+/-1.94%) up or down from last closing price. If Alger Mid Cap 40 ETF takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.79 (0.03%) than the resistance at $15.90 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alger Mid Cap 40 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 Alger Mid Cap 40 ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 4.049 Buy Candidate Upgraded
Predicted Opening Price for Alger Mid Cap 40 ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $15.79 ( 0.0633%) | $15.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FRTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.95 | 0.95 % | |
| R2 | 15.88 | 0.563 % | ||
| R1 | 15.85 | 0.324 % | ||
| Current price: | 15.80 | |||
| Support | S1 | 15.72 | -0.450 % | |
| S2 | 15.69 | -0.689 % | ||
| S3 | 15.63 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.35 | 3.51 % | |
| R2 | 16.15 | 2.25 % | ||
| R1 | 15.90 | 0.665 % | ||
| Current price | 15.80 | |||
| Support | S1 | 15.79 | -0.0317% | |
| S2 | 15.60 | -1.23% | ||
| S3 | 15.39 | -2.56% |
FRTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 15, 2021 | Dec 16, 2021 | Dec 31, 2021 | $1.07 | 5.35% |
FAQ
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