FIRST TRUST DORSEY WDF 5 ETF Forecast

FIRST TRUST DORSEY WDF 5 ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)

FVC Signals & Forecast

There are few to no technical positive signals at the moment. The FIRST TRUST DORSEY WDF 5 ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $33.74. On a fall, the ETF will find some support from the short-term average at $33.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.98%. 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 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 also not.

Support, Risk & Stop-loss for FIRST TRUST DORSEY WDF 5 ETF

FIRST TRUST DORSEY WDF 5 finds support from accumulated volume at $33.19 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 $0.570 between high and low, or 1.74%. For the last week the ETF has had daily average volatility of 1.49%.

Our recommended stop-loss: $31.94 (-3.93%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (FVC) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect FIRST TRUST DORSEY WRIGHT DYNAMIC FOCUS 5 ETF to open at $33.06, and during the day (based on 14 day Average True Range), to move between $32.77 and $33.73, which gives a possible trading interval of +/-$0.483 (+/-1.45%) up or down from last closing price. If FIRST TRUST DORSEY WRIGHT DYNAMIC FOCUS 5 ETF takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $33.19 (0.18%) than the resistance at $33.42 (0.51%), 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 DYNAMIC FOCUS 5 ETF ETF A Buy?

FIRST TRUST DORSEY WDF 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: -0.502 Hold/Accumulate Upgraded

Predicted Opening Price for FIRST TRUST DORSEY WRIGHT DYNAMIC FOCUS 5 ETF of Friday, May 3, 2024

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