FIRST TRUST ENHANCED SHORT MATURITY ETF Forecast
FIRST TRUST ENHANCED SHORT MATURITY ETF downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The FIRST TRUST ENHANCED SHORT MATURITY ETF price gained 0.0168% on the last trading day (Tuesday, 2nd Jul 2024), rising from $59.61 to $59.62. During the last trading day the ETF fluctuated 0.0336% from a day low at $59.61 to a day high of $59.63. The price has risen in 6 of the last 10 days but is still down by -0.2% for this period. Volume fell on the last day by -78 thousand shares and in total, 578 thousand shares were bought and sold for approximately $34.46 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 is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $59.59 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect FIRST TRUST ENHANCED SHORT MATURITY ETF with a 90% probability to be traded between $59.65 and $59.89 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FTSM Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.0336%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The FIRST TRUST ENHANCED SHORT MATURITY 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 $59.72 and $59.73. A break-up above any of these levels will issue buy signals. The ETF had a Golden Star Signal on Thursday, October 12, 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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, October 12, 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 ETF in question.
A sell signal from a double top formation was found on Thursday, June 27, 2024 with a target of $59.76. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for FIRST TRUST ENHANCED SHORT MATURITY ETF
FIRST TRUST ENHANCED SHORT MATURITY finds support from accumulated volume at $59.60 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 $0.0200 between high and low, or 0.0336%. For the last week the ETF has had daily average volatility of 0.0369%.
Our recommended stop-loss: $55.44 (-7.01%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (FTSM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect FIRST TRUST ENHANCED SHORT MATURITY ETF to open at $59.62, and during the day (based on 14 day Average True Range), to move between $59.58 and $59.66, which gives a possible trading interval of +/-$0.0431 (+/-0.07%) up or down from last closing price. If FIRST TRUST ENHANCED SHORT MATURITY ETF takes out the full calculated possible swing range there will be an estimated 0.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $59.60 (0.03%) than the resistance at $59.65 (0.05%), 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 ENHANCED SHORT MATURITY ETF ETF A Buy?
FIRST TRUST ENHANCED SHORT MATURITY holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.517 Hold/Accumulate Downgraded
Predicted Opening Price for FIRST TRUST ENHANCED SHORT MATURITY ETF of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $59.62 ( 0.00000000%) | $59.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTSM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.64 | 0.0335% |
| R2 | 59.63 | 0.0207% |
| R1 | 59.63 | 0.0128% |
| Price | 59.62 | |
| S1 | 59.61 | -0.0128% |
| S2 | 59.61 | -0.0207% |
| S3 | 59.60 | -0.0335% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.80 | 0.302% |
| R2 | 59.69 | 0.117% |
| R1 | 59.65 | 0.0503% |
| Price | 59.62 | |
| S1 | 59.60 | -0.0335% |
| S2 | 59.57 | -0.0839% |
| S3 | 59.55 | -0.117% |
FTSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 30, 2024 | May 03, 2024 | $0.249 | 0.418% |
| 2 | Mar 27, 2024 | Mar 28, 2024 | Apr 03, 2024 | $0.249 | 0.418% |
| 3 | Feb 28, 2024 | Feb 29, 2024 | Mar 05, 2024 | $0.240 | 0.402% |
| 4 | Jan 30, 2024 | Jan 31, 2024 | Feb 05, 2024 | $0.255 | 0.427% |
| 5 | Dec 22, 2023 | Dec 26, 2023 | Dec 29, 2023 | $0.253 | 0.424% |
FAQ
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