First Trust S&p 500 Diversified Dividend ETF Forecast

Evaluation of First Trust S&p 500 Diversified Dividend ETF downgraded after the last trading session.
(Updated on Jun 25, 2024)

KNGZ Signals & Forecast

The First Trust S&p 500 Diversified Dividend ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $31.93. On a fall, the ETF will find some support from the long-term average at approximately $31.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, June 24, 2024, and so far it has fallen -0.80%. Further fall is indicated until a new bottom pivot has been found. 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 S&p 500 Diversified Dividend ETF

First Trust S&p 500 Diversified Dividend finds support from accumulated volume at $31.77 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 $0.0999 between high and low, or 0.313%. For the last week the ETF has had daily average volatility of 0.468%

Our recommended stop-loss: $30.67 (-3.83%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (KNGZ) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect First Trust S&p 500 Diversified Dividend Aristocrats Etf to open at $31.91, and during the day (based on 14 day Average True Range), to move between $31.64 and $32.15, which gives a possible trading interval of +/-$0.255 (+/-0.80%) up or down from last closing price. If First Trust S&p 500 Diversified Dividend Aristocrats Etf takes out the full calculated possible swing range there will be an estimated 1.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $31.77 (0.40%) than the resistance at $32.03 (0.45%), 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 S&p 500 Diversified Dividend Aristocrats Etf ETF A Buy?

First Trust S&p 500 Diversified Dividend 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: -0.233 Hold/Accumulate Downgraded

Predicted Opening Price for First Trust S&p 500 Diversified Dividend Aristocrats Etf of Wednesday, June 26, 2024

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