FIRST TRUST NASDAQ TRANSPORTATION ETF Forecast
Evaluation of FIRST TRUST NASDAQ TRANSPORTATION ETF downgraded after the last trading session.
(Updated on Apr 30, 2024)
The FIRST TRUST NASDAQ TRANSPORTATION ETF price fell by -3.24% on the last day (Tuesday, 30th Apr 2024) from $31.48 to $30.46. During the last trading day the ETF fluctuated 1.81% from a day low at $30.46 to a day high of $31.01. The price has risen in 6 of the last 10 days and is up by 1.38% over the past 2 weeks. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately $83.43 thousand.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $30.16 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 2.76% during the next 3 months and, with a 90% probability hold a price between $30.99 and $33.42 at the end of this 3-month period.
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FTXR Signals & Forecast
There are few to no technical positive signals at the moment. The FIRST TRUST NASDAQ TRANSPORTATION 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 $30.94 and $31.09. 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 -3.24%. 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). FIRST TRUST NASDAQ TRANSPORTATION 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for FIRST TRUST NASDAQ TRANSPORTATION ETF
FIRST TRUST NASDAQ TRANSPORTATION finds support from accumulated volume at $30.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.550 (1.81%) between high and low. For the last week, the ETF has had daily average volatility of 1.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FTXR) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect FIRST TRUST NASDAQ TRANSPORTATION ETF to open at $30.64, and during the day (based on 14 day Average True Range), to move between $30.01 and $30.91, which gives a possible trading interval of +/-$0.454 (+/-1.49%) up or down from last closing price. If FIRST TRUST NASDAQ TRANSPORTATION ETF takes out the full calculated possible swing range there will be an estimated 2.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.24 (0.72%) than the resistance at $30.98 (1.72%), 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 NASDAQ TRANSPORTATION ETF ETF A Buy?
The FIRST TRUST NASDAQ TRANSPORTATION ETF holds several negative signals and despite the positive trend, we believe FIRST TRUST NASDAQ TRANSPORTATION 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: -2.408 Sell Candidate Downgraded
Predicted Opening Price for FIRST TRUST NASDAQ TRANSPORTATION ETF of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $30.64 ( 0.602%) | $30.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTXR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.19 | 2.41 % | |
| R2 | 30.98 | 1.72 % | ||
| R1 | 30.85 | 1.29 % | ||
| Current price: | 30.46 | |||
| Support | S1 | 30.43 | -0.0879 % | |
| S2 | 30.30 | -0.514 % | ||
| S3 | 30.09 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.19 | 2.40 % | |
| R2 | 31.06 | 1.97 % | ||
| R1 | 30.98 | 1.72 % | ||
| Current price | 30.46 | |||
| Support | S1 | 30.24 | -0.722% | |
| S2 | 30.10 | -1.20% | ||
| S3 | 30.05 | -1.35% |
FTXR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.115 | 0.356% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.121 | 0.402% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0720 | 0.256% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.106 | 0.356% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.152 | 0.559% |
FAQ
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