First Trust Small Cap Growth AlphaDEX ETF Forecast

Evaluation of First Trust Small Cap Growth AlphaDEX ETF downgraded after the last trading session.
(Updated on Apr 25, 2024)

FYC Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.56%. 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 Small Cap Growth AlphaDEX 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 $63.57. On a fall, the ETF will find some support from the short-term average at $61.94. 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. The ETF had a Golden Star Signal on Wednesday, February 07, 2024 in the short-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 Small Cap Growth AlphaDEX ETF

First Trust Small Cap Growth AlphaDEX finds support from accumulated volume at $61.72 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 $0.94 between high and low, or 1.52%. For the last week the ETF has had daily average volatility of 1.52%.

Our recommended stop-loss: $59.06 (-5.47%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (FYC) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Trust Small Cap Growth AlphaDEX Fund to open at $62.27, and during the day (based on 14 day Average True Range), to move between $61.44 and $63.52, which gives a possible trading interval of +/-$1.04 (+/-1.66%) up or down from last closing price. If First Trust Small Cap Growth AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $61.72 (1.22%) than the resistance at $63.42 (1.50%), 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 Small Cap Growth AlphaDEX Fund ETF A Buy?

First Trust Small Cap Growth AlphaDEX 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.459 Hold/Accumulate Downgraded

Predicted Opening Price for First Trust Small Cap Growth AlphaDEX Fund of Friday, April 26, 2024

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