FIRST TRUST NASDAQ TRANSPORTATION ETF Forecast
Green day on Thursday for FIRST TRUST NASDAQ TRANSPORTATION
(Updated on Apr 25, 2024)
The FIRST TRUST NASDAQ TRANSPORTATION ETF price gained 1.04% on the last trading day (Thursday, 25th Apr 2024), rising from $30.91 to $31.23. During the last trading day the ETF fluctuated 1.73% from a day low at $30.70 to a day high of $31.23. The price has been going up and down for this period, and there has been a 0.06% gain for the last 2 weeks. Volume fell on the last day by -966 shares and in total, 2 thousand shares were bought and sold for approximately $64.74 thousand. 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 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 3.61% during the next 3 months and, with a 90% probability hold a price between $31.23 and $33.73 at the end of this 3-month period.
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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 $30.56 and $31.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.530 between high and low, or 1.73%. For the last week the ETF has had daily average volatility of 1.13%.
Our recommended stop-loss: $29.84 (-4.44%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (FTXR) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect FIRST TRUST NASDAQ TRANSPORTATION ETF to open at $31.05, and during the day (based on 14 day Average True Range), to move between $30.82 and $31.64, which gives a possible trading interval of +/-$0.409 (+/-1.31%) 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 2.62% 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 (0.13%) than the resistance at $31.73 (1.60%), 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.
Current score: 0.934 Hold/Accumulate Unchanged
Predicted Opening Price for FIRST TRUST NASDAQ TRANSPORTATION ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $31.05 ( 0.566%) | $31.23 |
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 | 31.58 | 1.13 % | |
| R2 | 31.38 | 0.483 % | ||
| R1 | 31.26 | 0.0826 % | ||
| Current price: | 31.23 | |||
| Support | S1 | 30.85 | -1.21 % | |
| S2 | 30.73 | -1.61 % | ||
| S3 | 30.52 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.21 | 3.14 % | |
| R2 | 31.77 | 1.74 % | ||
| R1 | 31.73 | 1.60 % | ||
| Current price | 31.23 | |||
| Support | S1 | 31.19 | -0.128% | |
| S2 | 31.06 | -0.544% | ||
| S3 | 30.98 | -0.790% |
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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