FIRST TRUST NASDAQ TRANSPORTATION ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
FIRST TRUST NASDAQ TRANSPORTATION ETF upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The FIRST TRUST NASDAQ TRANSPORTATION ETF price gained 1.17% on the last trading day (Monday, 6th May 2024), rising from $30.88 to $31.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.515% from a day low at $31.08 to a day high of $31.24. The price has risen in 6 of the last 10 days and is up by 2.36% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 661 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $75.69 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect FIRST TRUST NASDAQ TRANSPORTATION ETF with a 90% probability to be traded between $30.46 and $32.74 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FTXR Signals & Forecast
The FIRST TRUST NASDAQ TRANSPORTATION ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF 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 $30.88 and $31.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.07%. 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). FIRST TRUST NASDAQ TRANSPORTATION has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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 $31.19 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 $0.160 between high and low, or 0.515%. For the last week the ETF has had daily average volatility of 1.02%.
Our recommended stop-loss: $29.78 (-4.68%) (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 (FTXR) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect FIRST TRUST NASDAQ TRANSPORTATION ETF to open at $31.19, and during the day (based on 14 day Average True Range), to move between $30.80 and $31.68, which gives a possible trading interval of +/-$0.436 (+/-1.40%) 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 2.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.19 (0.16%) than the resistance at $31.73 (1.57%), 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?
FIRST TRUST NASDAQ TRANSPORTATION holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.907 Hold/Accumulate Upgraded
Predicted Opening Price for FIRST TRUST NASDAQ TRANSPORTATION ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $31.19 ( 0.171%) | $31.24 |
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 | 31.35 | 0.341 % | |
| R2 | 31.29 | 0.146 % | ||
| R1 | 31.25 | 0.0249 % | ||
| Current price: | 31.24 | |||
| Support | S1 | 31.13 | -0.366 % | |
| S2 | 31.09 | -0.487 % | ||
| S3 | 31.03 | -0.683 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.21 | 3.10 % | |
| R2 | 31.77 | 1.70 % | ||
| R1 | 31.73 | 1.57 % | ||
| Current price | 31.24 | |||
| Support | S1 | 31.19 | -0.160% | |
| S2 | 31.06 | -0.576% | ||
| S3 | 30.98 | -0.82% |
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
Click here for our free guide on how to buy FIRST TRUST NASDAQ TRANSPORTATION ETF ETF.
