Fidelity MSCI Utilities Index ETF Forecast
Fidelity MSCI Utilities Index ETF upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Fidelity MSCI Utilities Index ETF price gained 1.14% on the last trading day (Wednesday, 1st May 2024), rising from $43.10 to $43.59. During the last trading day the ETF fluctuated 2.47% from a day low at $42.95 to a day high of $44.01. The price has risen in 8 of the last 10 days and is up by 5.54% 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, 69 thousand more shares were traded than the day before. In total, 159 thousand shares were bought and sold for approximately $6.95 million.
The ETF lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $43.69 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 10.51% during the next 3 months and, with a 90% probability hold a price between $45.58 and $48.28 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FUTY Signals & Forecast
Mostly positive signals in the chart today. The Fidelity MSCI Utilities Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $43.10 and $41.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.63%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Fidelity MSCI Utilities Index ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $38.95 and $38.87. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Fidelity MSCI Utilities Index finds support just below today's level at $38.95. If this is broken, then the next support from accumulated volume will be at $38.87 and $38.66.
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 $1.06 between high and low, or 2.47%. For the last week the ETF has had daily average volatility of 1.53%.
Our recommended stop-loss: $41.71 (-4.31%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (FUTY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Fidelity MSCI Utilities Index ETF to open at $43.52, and during the day (based on 14 day Average True Range), to move between $42.92 and $44.26, which gives a possible trading interval of +/-$0.668 (+/-1.53%) up or down from last closing price. If Fidelity MSCI Utilities Index ETF takes out the full calculated possible swing range there will be an estimated 3.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $38.95, some $4.64 (10.64%) from the current price of $43.59, our system finds the risk reward attractive.
Is Fidelity MSCI Utilities Index ETF ETF A Buy?
Fidelity MSCI Utilities Index holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.480 Strong Buy Candidate Upgraded
Predicted Opening Price for Fidelity MSCI Utilities Index ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $43.52 ( 0.168%) | $43.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FUTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.58 | 2.26 % | |
| R2 | 44.17 | 1.33 % | ||
| R1 | 43.92 | 0.761 % | ||
| Current price: | 43.59 | |||
| Support | S1 | 43.11 | -1.10 % | |
| S2 | 42.86 | -1.67 % | ||
| S3 | 42.46 | -2.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 43.59 | |||
| Support | S1 | 38.95 | -10.64% | |
| S2 | 38.87 | -10.83% | ||
| S3 | 38.66 | -11.31% |
FUTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.385 | 0.93% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.293 | 0.718% |
| 3 | Sep 14, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.384 | 0.93% |
| 4 | Jun 15, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.317 | 0.744% |
| 5 | Mar 16, 2023 | Mar 17, 2023 | Mar 22, 2023 | $0.357 | 0.86% |
FAQ
Click here for our free guide on how to buy Fidelity MSCI Utilities Index ETF ETF.
