First Trust Small Cap Growth AlphaDEX ETF Forecast
Green day on Tuesday for First Trust Small Cap Growth AlphaDEX ETF after gaining 0.518%
(Updated on May 07, 2024)
The First Trust Small Cap Growth AlphaDEX ETF price gained 0.518% on the last trading day (Tuesday, 7th May 2024), rising from $65.64 to $65.98. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.650% from a day low at $65.85 to a day high of $66.27. The price has risen in 7 of the last 10 days and is up by 4.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately $2.49 million.
The ETF has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $65.54 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach $70.24 sometime during the next 3 months.
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FYC Signals & Forecast
Mostly positive signals in the chart today. The First Trust Small Cap Growth AlphaDEX 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 $64.48 and $63.77. 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 8.31%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Trust Small Cap Growth AlphaDEX ETF
First Trust Small Cap Growth AlphaDEX finds support from accumulated volume at $63.62 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 $0.428 (0.650%) between high and low. For the last week, the ETF has had daily average volatility of 0.98%.
Our recommended stop-loss: $63.12 (-4.34%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (FYC) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect First Trust Small Cap Growth AlphaDEX Fund to open at $66.03, and during the day (based on 14 day Average True Range), to move between $64.98 and $66.98, which gives a possible trading interval of +/-$1.00 (+/-1.52%) 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 3.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $63.62, some $2.36 (3.58%) from the current price of $65.98, our system finds the risk reward attractive.
Is First Trust Small Cap Growth AlphaDEX Fund ETF A Buy?
Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Small Cap Growth AlphaDEX ETF to perform well in the short-term period.
Current score: 4.037 Buy Candidate Unchanged
Predicted Opening Price for First Trust Small Cap Growth AlphaDEX Fund of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $66.03 ( 0.0798%) | $65.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FYC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.46 | 0.728 % | |
| R2 | 66.30 | 0.481 % | ||
| R1 | 66.20 | 0.328 % | ||
| Current price: | 65.98 | |||
| Support | S1 | 65.87 | -0.168 % | |
| S2 | 65.77 | -0.321 % | ||
| S3 | 65.60 | -0.569 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 65.98 | |||
| Support | S1 | 63.62 | -3.58% | |
| S2 | 63.42 | -3.88% | ||
| S3 | 61.59 | -6.65% |
FYC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.156 | 0.247% |
| 2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0770 | 0.137% |
| 3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0720 | 0.120% |
| 4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0590 | 0.102% |
| 5 | Jun 23, 2022 | Jun 24, 2022 | Jun 30, 2022 | $0.0020 | 0.0037% |
FAQ
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