Alger Mid Cap 40 ETF Forecast
Red day on Friday for Alger Mid Cap 40
(Updated on May 17, 2024)
The Alger Mid Cap 40 ETF price fell by -1.34% on the last day (Friday, 17th May 2024) from $16.38 to $16.16. During the last trading day the ETF fluctuated 0.744% from a day low at $16.13 to a day high of $16.25. The price has been going up and down for this period, and there has been a 2.31% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -7 thousand shares and in total, 3 thousand shares were bought and sold for approximately $55.99 thousand.
The ETFis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $16.42 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Alger Mid Cap 40 ETF with a 90% probability to be traded between $14.72 and $16.49 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
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 $16.16 and $15.69. 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 -1.58%. 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 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.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -13.79% to $13.93 within 53 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Alger Mid Cap 40 ETF
Alger Mid Cap 40 finds support from accumulated volume at $16.15 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 $0.120 between high and low, or 0.744%. For the last week the ETF has had daily average volatility of 1.37%.
Our recommended stop-loss: $15.47 (-4.29%) (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 (FRTY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Alger Mid Cap 40 ETF to open at $16.18, and during the day (based on 14 day Average True Range), to move between $15.90 and $16.42, which gives a possible trading interval of +/-$0.259 (+/-1.60%) 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 3.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.15 (0.06%) than the resistance at $16.26 (0.62%), 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.
Current score: 3.246 Buy Candidate Unchanged
Predicted Opening Price for Alger Mid Cap 40 ETF of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $16.18 ( 0.124%) | $16.16 |
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 | 16.30 | 0.87 % | |
| R2 | 16.25 | 0.583 % | ||
| R1 | 16.23 | 0.407 % | ||
| Current price: | 16.16 | |||
| Support | S1 | 16.13 | -0.160 % | |
| S2 | 16.11 | -0.335 % | ||
| S3 | 16.06 | -0.619 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.42 | 1.61 % | |
| R2 | 16.35 | 1.18 % | ||
| R1 | 16.26 | 0.619 % | ||
| Current price | 16.16 | |||
| Support | S1 | 16.15 | -0.0619% | |
| S2 | 15.97 | -1.18% | ||
| S3 | 15.90 | -1.61% |
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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