FIRST TRUST HORIZON MANAGED VOLATILITY ETF Forecast

FIRST TRUST HORIZON MANAGED VOLATILITY ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 14, 2024)

HDMV Signals & Forecast

There are few to no technical positive signals at the moment. The FIRST TRUST HORIZON MANAGED VOLATILITY ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $29.21 and $29.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -3.05%. Further fall is indicated until a new bottom pivot has been found. 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 very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for FIRST TRUST HORIZON MANAGED VOLATILITY ETF

FIRST TRUST HORIZON MANAGED VOLATILITY finds support from accumulated volume at $28.50 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 therefore the general risk is considered very 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 $0.0150 between high and low, or 0.0522%. For the last week the ETF has had daily average volatility of 0.243%

Our recommended stop-loss: $27.16 (-5.52%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (HDMV) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF to open at $28.74, and during the day (based on 14 day Average True Range), to move between $28.52 and $28.97, which gives a possible trading interval of +/-$0.228 (+/-0.79%) up or down from last closing price. If FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $28.79 (0.16%) than the support at $28.50 (0.85%), 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 HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF ETF A Buy?

FIRST TRUST HORIZON MANAGED VOLATILITY holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.912 Hold/Accumulate Upgraded

Predicted Opening Price for FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF FIRST TRUST HORIZON MANAGED VOLATILITY DEVELOPED INTERNATIONAL ETF of Monday, June 17, 2024

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