First Trust Global Tactical Commodity ETF Forecast

Green day on Friday for First Trust Global Tactical Commodity
(Updated on May 03, 2024)

FTGC Signals & Forecast

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Global Tactical Commodity 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 $24.04 and $24.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -3.18%. 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). The ETF had a Golden Star Signal on Wednesday, February 28, 2024 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 First Trust Global Tactical Commodity ETF

First Trust Global Tactical Commodity finds support from accumulated volume at $23.72 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 $0.147 between high and low, or 0.624%. For the last week the ETF has had daily average volatility of 1.52%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FTGC) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect First Trust Global Tactical Commodity Strategy Fund to open at $23.72, and during the day (based on 14 day Average True Range), to move between $23.47 and $24.01, which gives a possible trading interval of +/-$0.273 (+/-1.15%) up or down from last closing price. If First Trust Global Tactical Commodity Strategy Fund takes out the full calculated possible swing range there will be an estimated 2.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.72 (0.08%) than the resistance at $24.38 (2.70%), 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 Global Tactical Commodity Strategy Fund ETF A Buy?

The First Trust Global Tactical Commodity ETF holds several negative signals and despite the positive trend, we believe First Trust Global Tactical Commodity will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -3.541 Sell Candidate Unchanged

Predicted Opening Price for First Trust Global Tactical Commodity Strategy Fund of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.