First Trust High Yield Opportunities Trust Forecast
First Trust High Yield Opportunities trust upgraded to Buy Candidate.
(Updated on Jun 27, 2024)
The First Trust High Yield Opportunities trust price gained 0.351% on the last trading day (Thursday, 27th Jun 2024), rising from $14.24 to $14.29. It has now gained 6 days in a row. It is not often that trusts manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the trust fluctuated 0.91% from a day low at $14.25 to a day high of $14.38. The price has risen in 7 of the last 10 days and is up by 1.85% over the past 2 weeks. Volume fell on the last day by -51 thousand shares and in total, 84 thousand shares were bought and sold for approximately $1.20 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 trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust High Yield Opportunities trust with a 90% probability to be traded between $13.74 and $14.29 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FTHY Signals & Forecast
The First Trust High Yield Opportunities trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the trust 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 $14.15 and $14.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 2.66%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The trust had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, August 28, 2023.
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.
Golden Star
The trust had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, August 28, 2023.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.
Golden Star 12 Months
The trust had a Golden Star Signal on Monday, May 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, August 28, 2023.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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved $0.130 between high and low, or 0.91%. For the last week the trust has had daily average volatility of 1.09%
Since the First Trust High Yield Opportunities has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the trust is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $13.66 (-4.38%) (This trust has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (FTHY) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect First Trust High Yield Opportunities 2027 Term Fund to open at $14.31, and during the day (based on 14 day Average True Range), to move between $14.16 and $14.42, which gives a possible trading interval of +/-$0.132 (+/-0.92%) 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 1.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.30 (0.07%) than the support at $14.16 (0.91%), 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?
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 First Trust High Yield Opportunities trust to perform well in the short-term period. We have upgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.125 Buy Candidate Upgraded
Predicted Opening Price for First Trust High Yield Opportunities 2027 Term Fund of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $14.31 ( 0.117%) | $14.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTHY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.44 | 1.03% |
| R2 | 14.39 | 0.679% |
| R1 | 14.36 | 0.464% |
| Price | 14.29 | |
| S1 | 14.26 | -0.231% |
| S2 | 14.23 | -0.446% |
| S3 | 14.18 | -0.793% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.50 | 1.47% |
| R2 | 14.37 | 0.560% |
| R1 | 14.30 | 0.0700% |
| Price | 14.29 | |
| S1 | 14.16 | -0.91% |
| S2 | 14.06 | -1.61% |
| S3 | 14.04 | -1.75% |
FAQ
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