First Trust Large Cap Value AlphaDEX ETF Forecast
First Trust Large Cap Value AlphaDEX ETF upgraded to Buy Candidate.
(Updated on May 07, 2024)
The First Trust Large Cap Value AlphaDEX ETF price gained 0.283% on the last trading day (Tuesday, 7th May 2024), rising from $74.34 to $74.55. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.334% from a day low at $74.46 to a day high of $74.71. The price has risen in 6 of the last 10 days and is up by 0.31% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 29 thousand shares were bought and sold for approximately $2.13 million. 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 in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 4.74% during the next 3 months and, with a 90% probability hold a price between $76.70 and $81.64 at the end of this 3-month period.
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FTA Signals & Forecast
Mostly positive signals in the chart today. The First Trust Large Cap Value AlphaDEX 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 $73.79 and $74.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.02%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for First Trust Large Cap Value AlphaDEX ETF
First Trust Large Cap Value AlphaDEX finds support from accumulated volume at $74.39 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 $0.249 between high and low, or 0.334%. For the last week the ETF has had daily average volatility of 0.559%.
Our recommended stop-loss: $70.91 (-4.88%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (FTA) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect First Trust Large Cap Value AlphaDEX Fund to open at $74.57, and during the day (based on 14 day Average True Range), to move between $73.85 and $75.25, which gives a possible trading interval of +/-$0.697 (+/-0.94%) up or down from last closing price. If First Trust Large Cap Value AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 1.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $74.39 (0.21%) than the resistance at $75.03 (0.65%), 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 Large Cap Value AlphaDEX Fund 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 Large Cap Value AlphaDEX ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.174 Buy Candidate Upgraded
Predicted Opening Price for First Trust Large Cap Value AlphaDEX Fund of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $74.57 ( 0.0334%) | $74.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.82 | 0.367 % | |
| R2 | 74.73 | 0.240 % | ||
| R1 | 74.67 | 0.161 % | ||
| Current price: | 74.55 | |||
| Support | S1 | 74.48 | -0.0940 % | |
| S2 | 74.42 | -0.173 % | ||
| S3 | 74.32 | -0.300 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 76.00 | 1.95 % | |
| R2 | 75.13 | 0.780 % | ||
| R1 | 75.03 | 0.646 % | ||
| Current price | 74.55 | |||
| Support | S1 | 74.39 | -0.210% | |
| S2 | 73.56 | -1.33% | ||
| S3 | 73.11 | -1.93% |
FTA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.309 | 0.405% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.490 | 0.692% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.412 | 0.636% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.301 | 0.451% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.286 | 0.431% |
FAQ
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