First Trust Dorsey Wright Focus 5 ETF Forecast

First Trust Dorsey Wright Focus 5 ETF price ended at $52.41 on Friday, after losing 1.48%.
(Updated on Apr 19, 2024)

FV Signals & Forecast

There are few to no technical positive signals at the moment. 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 $54.15 and $55.93. 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 01, 2024, and so far it has fallen -8.49%. 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). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.

Support, Risk & Stop-loss for First Trust Dorsey Wright Focus 5 ETF

First Trust Dorsey Wright Focus 5 finds support from accumulated volume at $51.97 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 $1.09 (2.09%) between high and low. For the last week, the ETF has had daily average volatility of 2.05%.

First Trust Dorsey Wright Focus 5 is oversold on RSI14 (22). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FV) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect First Trust Dorsey Wright Focus 5 ETF to open at $52.59, and during the day (based on 14 day Average True Range), to move between $51.51 and $53.31, which gives a possible trading interval of +/-$0.90 (+/-1.72%) 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 3.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $51.97 (0.84%) than the resistance at $53.20 (1.51%), 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?

The First Trust Dorsey Wright Focus 5 ETF holds several negative signals and despite the positive trend, we believe First Trust Dorsey Wright Focus 5 will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.

Current score: -1.693 Sell Candidate Unchanged

Predicted Opening Price for First Trust Dorsey Wright Focus 5 ETF of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.