First Trust High Yield Opportunities Trust Forecast

First Trust High Yield Opportunities trust downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

FTHY Signals & Forecast

The First Trust High Yield Opportunities trust holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the trust giving a positive forecast for the stock. On further gains, the trust will meet resistance from the short-term Moving Average at approximately $14.23. On a fall, the trust will find some support from the long-term average at approximately $14.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the trust should be watched closely. 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 Friday, June 28, 2024, and so far it has fallen -0.84%. Further fall is indicated until a new bottom pivot has been found. The trust had a Golden Star Signal on Monday, August 28, 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 trust in question.

Support, Risk & Stop-loss for First Trust High Yield Opportunities trust

First Trust High Yield Opportunities finds support from accumulated volume at $14.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.0699 between high and low, or 0.493%. For the last week the trust has had daily average volatility of 0.89%.

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

Trading Expectations (FTHY) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect First Trust High Yield Opportunities 2027 Term Fund to open at $14.20, and during the day (based on 14 day Average True Range), to move between $14.07 and $14.33, which gives a possible trading interval of +/-$0.132 (+/-0.93%) up or down from last closing price. If First Trust High Yield Opportunities 2027 Term Fund takes out the full calculated possible swing range there will be an estimated 1.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.23 (0.21%) than the support at $14.16 (0.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Trust High Yield Opportunities 2027 Term Fund trust A Buy?

First Trust High Yield Opportunities holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.017 Sell Candidate Downgraded

Predicted Opening Price for First Trust High Yield Opportunities 2027 Term Fund of Wednesday, July 3, 2024

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