First Trust Capital Strength ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The First Trust Capital Strength ETF price gained 0.0630% on the last trading day (Friday, 3rd Dec 2021), rising from $79.38 to $79.43. , and has now gained 3 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 day the ETF fluctuated 1.52% from a day low at $78.75 to a day high of $79.95. The price has been going up and down for this period, and there has been a -2.11% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 347 thousand shares were bought and sold for approximately $27.60 million.
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 5.65% during the next 3 months and, with a 90% probability hold a price between $82.23 and $87.30 at the end of this 3-month period.
Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Capital Strength ETF holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $79.55 and $80.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 16, 2021, and so far it has fallen -2.87%. 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).
Support, Risk & Stop-loss
First Trust Capital Strength finds support from accumulated volume at $78.48 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 $1.20 between high and low, or 1.52%. For the last week the ETF has had a daily average volatility of 1.83%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is First Trust Capital Strength ETF ETF A Buy?
The First Trust Capital Strength ETF holds several negative signals and despite the positive trend, we believe First Trust Capital Strength will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.205
Predicted Opening Price for First Trust Capital Strength ETF of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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