First Trust Industrials/Producer ETF Forecast

First Trust Industrials/Producer ETF price up 0.184% on Friday
(Updated on May 10, 2024)

FXR Signals & Forecast

Mostly positive signals in the chart today. The First Trust Industrials/Producer ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $70.45 and $70.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 4.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The ETF had a Golden Star Signal on Wednesday, May 17, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for First Trust Industrials/Producer ETF

First Trust Industrials/Producer finds support from accumulated volume at $70.06 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.328 between high and low, or 0.460%. For the last week the ETF has had daily average volatility of 0.559%.

Our recommended stop-loss: $68.04 (-4.70%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (FXR) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect First Trust Industrials/Producer Durables AlphaDEX Fund to open at $71.44, and during the day (based on 14 day Average True Range), to move between $70.58 and $72.22, which gives a possible trading interval of +/-$0.82 (+/-1.15%) up or down from last closing price. If First Trust Industrials/Producer Durables AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $71.43 (0.04%) than the support at $70.06 (1.88%), 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 Industrials/Producer Durables 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 Industrials/Producer ETF to perform well in the short-term.

Current score: 1.262 Buy Candidate Unchanged

Predicted Opening Price for First Trust Industrials/Producer Durables AlphaDEX Fund of Monday, May 13, 2024

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