First Trust Dorsey Wright Focus 5 ETF Forecast
First Trust Dorsey Wright Focus 5 ETF upgraded to Hold/Accumulate.
(Updated on Apr 22, 2024)
The First Trust Dorsey Wright Focus 5 ETF price gained 0.92% on the last trading day (Monday, 22nd Apr 2024), rising from $52.41 to $52.89. During the last trading day the ETF fluctuated 1.78% from a day low at $52.32 to a day high of $53.25. The price has fallen in 7 of the last 10 days and is down by -6.06% for this period. Volume fell on the last day by -46 thousand shares and in total, 125 thousand shares were bought and sold for approximately $6.59 million. 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 lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.45 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 4.86% during the next 3 months and, with a 90% probability hold a price between $55.00 and $60.74 at the end of this 3-month period.
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FV Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.92%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Dorsey Wright Focus 5 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 $53.65 and $55.82. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for First Trust Dorsey Wright Focus 5 ETF
First Trust Dorsey Wright Focus 5 finds support from accumulated volume at $52.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.93 between high and low, or 1.78%. For the last week, the ETF has had daily average volatility of 1.75%.
Our recommended stop-loss: $49.94 (-5.57%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (FV) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect First Trust Dorsey Wright Focus 5 ETF to open at $52.82, and during the day (based on 14 day Average True Range), to move between $51.99 and $53.79, which gives a possible trading interval of +/-$0.90 (+/-1.71%) up or down from last closing price. If First Trust Dorsey Wright Focus 5 ETF takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.88 (0.02%) than the resistance at $53.20 (0.59%), 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 Dorsey Wright Focus 5 ETF ETF A Buy?
First Trust Dorsey Wright Focus 5 holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.042 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Dorsey Wright Focus 5 ETF of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $52.82 ( 0.132%) | $52.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.75 | 1.63 % | |
| R2 | 53.39 | 0.95 % | ||
| R1 | 53.18 | 0.539 % | ||
| Current price: | 52.89 | |||
| Support | S1 | 52.46 | -0.80 % | |
| S2 | 52.25 | -1.22 % | ||
| S3 | 51.89 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.55 | 6.92 % | |
| R2 | 53.29 | 0.756 % | ||
| R1 | 53.20 | 0.586 % | ||
| Current price | 52.89 | |||
| Support | S1 | 52.88 | -0.0189% | |
| S2 | 52.86 | -0.0567% | ||
| S3 | 52.41 | -0.91% |
FV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0070 | 0.0122% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0384 | 0.0745% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0100 | 0.0226% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0450 | 0.0959% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.143 | 0.317% |
FAQ
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