First Trust Financials AlphaDEX Fund ETF Forecast
Red day on Monday for First Trust Financials AlphaDEX Fund
(Updated on May 13, 2024)
The First Trust Financials AlphaDEX Fund ETF price fell by -0.509% on the last day (Monday, 13th May 2024) from $47.12 to $46.88. During the last trading day the ETF fluctuated 1.12% from a day low at $46.88 to a day high of $47.40. The price has risen in 8 of the last 10 days and is up by 3.53% over the past 2 weeks. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 48 thousand shares were bought and sold for approximately $2.26 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 3.52% during the next 3 months and, with a 90% probability hold a price between $46.00 and $50.06 at the end of this 3-month period.
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FXO Signals & Forecast
The First Trust Financials AlphaDEX Fund 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 $46.75 and $45.90. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.509%. Further fall is indicated until a new bottom pivot has been found. 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 Financials AlphaDEX Fund ETF
First Trust Financials AlphaDEX Fund finds support from accumulated volume at $45.79 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 $0.523 (1.12%) between high and low. For the last week, the ETF has had daily average volatility of 0.722%.
Our recommended stop-loss: $45.52 (-2.89%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FXO) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect First Trust Financials AlphaDEX Fund to open at $47.05, and during the day (based on 14 day Average True Range), to move between $46.37 and $47.39, which gives a possible trading interval of +/-$0.511 (+/-1.09%) 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 2.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $47.01 (0.28%) than the support at $45.79 (2.33%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Financials AlphaDEX Fund ETF to perform well in the short-term.
Current score: 3.689 Buy Candidate Unchanged
Predicted Opening Price for First Trust Financials AlphaDEX Fund of Tuesday, May 14, 2024
Fair opening price May 14, 2024 | Current price |
---|---|
$47.05 ( 0.372%) | $46.88 |
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 | 47.58 | 1.49 % | |
R2 | 47.38 | 1.06 % | ||
R1 | 47.25 | 0.798 % | ||
Current price: | 46.88 | |||
Support | S1 | 46.85 | -0.0543 % | |
S2 | 46.73 | -0.318 % | ||
S3 | 46.53 | -0.744 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.52 | 1.37 % | |
R2 | 47.27 | 0.83 % | ||
R1 | 47.01 | 0.277 % | ||
Current price | 46.88 | |||
Support | S1 | 45.79 | -2.33% | |
S2 | 44.82 | -4.39% | ||
S3 | 43.71 | -6.76% |
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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