First Trust Financials AlphaDEX Fund ETF Forecast
First Trust Financials AlphaDEX Fund ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The First Trust Financials AlphaDEX Fund ETF price fell by -0.417% on the last day (Friday, 26th Apr 2024) from $45.54 to $45.35. During the last trading day the ETF fluctuated 0.564% from a day low at $45.35 to a day high of $45.61. The price has been going up and down for this period, and there has been a 1.66% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -17 thousand shares and in total, 24 thousand shares were bought and sold for approximately $1.09 million.
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 5.44% during the next 3 months and, with a 90% probability hold a price between $46.64 and $50.95 at the end of this 3-month period.
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FXO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.19%. 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. The First Trust Financials AlphaDEX Fund 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 $45.77. On a fall, the ETF will find some support from the short-term average at $45.30. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for First Trust Financials AlphaDEX Fund ETF
First Trust Financials AlphaDEX Fund finds support from accumulated volume at $44.82 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 $0.256 between high and low, or 0.564%. For the last week the ETF has had daily average volatility of 1.07%.
Our recommended stop-loss: $42.88 (-5.45%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (FXO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First Trust Financials AlphaDEX Fund to open at $45.44, and during the day (based on 14 day Average True Range), to move between $44.76 and $45.94, which gives a possible trading interval of +/-$0.594 (+/-1.31%) up or down from last closing price. If First Trust Financials AlphaDEX Fund 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 resistance from accumulated volume at $45.50 (0.33%) than the support at $44.82 (1.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Trust Financials AlphaDEX Fund ETF A Buy?
First Trust Financials AlphaDEX Fund 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.474 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Financials AlphaDEX Fund of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$45.44 ( 0.188%) | $45.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FXO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45.69 | 0.751 % | |
R2 | 45.59 | 0.536 % | ||
R1 | 45.53 | 0.403 % | ||
Current price: | 45.35 | |||
Support | S1 | 45.34 | -0.0274 % | |
S2 | 45.28 | -0.160 % | ||
S3 | 45.18 | -0.376 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.01 | 3.66 % | |
R2 | 45.79 | 0.97 % | ||
R1 | 45.50 | 0.331 % | ||
Current price | 45.35 | |||
Support | S1 | 44.82 | -1.17% | |
S2 | 43.43 | -4.23% | ||
S3 | 43.03 | -5.12% |
FXO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.159 | 0.335% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.380 | 0.88% |
3 | Dec 27, 2022 | Sep 22, 2023 | Sep 29, 2023 | $0.370 | 0.98% |
4 | Dec 27, 2022 | Jun 27, 2023 | Jun 30, 2023 | $0.331 | 0.88% |
5 | Dec 27, 2022 | Mar 24, 2023 | Mar 31, 2023 | $0.210 | 0.563% |
FAQ
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