FIRST TRUST NASDAQ FOOD & BEVERAGE ETF Forecast
Evaluation of FIRST TRUST NASDAQ FOOD & BEVERAGE ETF downgraded after the last trading session.
(Updated on May 06, 2024)
The FIRST TRUST NASDAQ FOOD & BEVERAGE ETF price fell by -0.497% on the last day (Monday, 6th May 2024) from $24.52 to $24.40. During the last trading day the ETF fluctuated 1.11% from a day low at $24.28 to a day high of $24.55. The price has fallen in 7 of the last 10 days and is down by -0.45% for this period. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 thousand shares were bought and sold for approximately $309.61 thousand.
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 4.25% during the next 3 months and, with a 90% probability hold a price between $25.01 and $26.38 at the end of this 3-month period.
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FTXG Signals & Forecast
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. The FIRST TRUST NASDAQ FOOD & BEVERAGE ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $24.48 and $24.43. 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 29, 2024, and so far it has fallen -1.37%. Further fall is indicated until a new bottom pivot has been found. FIRST TRUST NASDAQ FOOD & BEVERAGE gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The ETF had a Golden Star Signal on Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, December 22, 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 ETF in question.
Golden Star
The ETF had a Golden Star Signal on Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, December 22, 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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, December 22, 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 ETF in question.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -5.92% to $22.96 within 21 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for FIRST TRUST NASDAQ FOOD & BEVERAGE ETF
FIRST TRUST NASDAQ FOOD & BEVERAGE finds support from accumulated volume at $24.12 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 $0.270 between high and low, or 1.11%. For the last week the ETF has had daily average volatility of 0.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTXG) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect FIRST TRUST NASDAQ FOOD & BEVERAGE ETF to open at $24.41, and during the day (based on 14 day Average True Range), to move between $24.17 and $24.63, which gives a possible trading interval of +/-$0.231 (+/-0.95%) up or down from last closing price. If FIRST TRUST NASDAQ FOOD & BEVERAGE ETF takes out the full calculated possible swing range there will be an estimated 1.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.47 (0.29%) than the support at $24.12 (1.15%), 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 NASDAQ FOOD & BEVERAGE ETF ETF A Buy?
The FIRST TRUST NASDAQ FOOD & BEVERAGE ETF holds several negative signals and despite the positive trend, we believe FIRST TRUST NASDAQ FOOD & BEVERAGE 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 Buy to a Sell candidate.
Current score: -1.244 Sell Candidate Downgraded
Predicted Opening Price for FIRST TRUST NASDAQ FOOD & BEVERAGE ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $24.41 ( 0.0273%) | $24.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTXG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.68 | 1.13 % | |
| R2 | 24.57 | 0.711 % | ||
| R1 | 24.51 | 0.450 % | ||
| Current price: | 24.40 | |||
| Support | S1 | 24.30 | -0.395 % | |
| S2 | 24.24 | -0.657 % | ||
| S3 | 24.14 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.57 | 0.710 % | |
| R2 | 24.50 | 0.410 % | ||
| R1 | 24.47 | 0.287 % | ||
| Current price | 24.40 | |||
| Support | S1 | 24.12 | -1.15% | |
| S2 | 23.66 | -3.02% | ||
| S3 | 23.53 | -3.57% |
FTXG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0911 | 0.366% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.197 | 0.81% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.668 | 2.82% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.108 | 0.412% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0630 | 0.234% |
FAQ
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