First Trust Multi-Manager Large Growth ETF Forecast
Stronger technical forecast for First Trust Multi-Manager Large Growth ETF price after Thursday trading.
(Updated on May 02, 2024)
The First Trust Multi-Manager Large Growth ETF price gained 1.10% on the last trading day (Thursday, 2nd May 2024), rising from $25.77 to $26.05. During the last trading day the ETF fluctuated 1.65% from a day low at $25.68 to a day high of $26.10. The price has fallen in 6 of the last 10 days and is down by -0.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 thousand more shares were traded than the day before. In total, 68 thousand shares were bought and sold for approximately $1.78 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust Multi-Manager Large Growth ETF with a 90% probability to be traded between $25.70 and $27.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MMLG Signals & Forecast
The First Trust Multi-Manager Large Growth ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $26.14 and $26.91. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for First Trust Multi-Manager Large Growth ETF
First Trust Multi-Manager Large Growth finds support from accumulated volume at $25.90 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 $0.424 (1.65%) between high and low. For the last week, the ETF has had daily average volatility of 1.33%.
Our recommended stop-loss: $24.53 (-5.85%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (MMLG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect First Trust Multi-Manager Large Growth ETF to open at $25.95, and during the day (based on 14 day Average True Range), to move between $25.64 and $26.47, which gives a possible trading interval of +/-$0.418 (+/-1.61%) up or down from last closing price. If First Trust Multi-Manager Large Growth ETF takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.90 (0.61%) than the resistance at $26.72 (2.56%), 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 Multi-Manager Large Growth ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.139 Buy Candidate Upgraded
Predicted Opening Price for First Trust Multi-Manager Large Growth ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $25.95 ( 0.415%) | $26.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMLG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.37 | 1.21 % | |
| R2 | 26.21 | 0.590 % | ||
| R1 | 26.11 | 0.206 % | ||
| Current price: | 26.05 | |||
| Support | S1 | 25.78 | -1.04 % | |
| S2 | 25.68 | -1.42 % | ||
| S3 | 25.52 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.65 | 6.14 % | |
| R2 | 27.19 | 4.36 % | ||
| R1 | 26.72 | 2.56 % | ||
| Current price | 26.05 | |||
| Support | S1 | 25.90 | -0.607% | |
| S2 | 25.77 | -1.09% | ||
| S3 | 25.72 | -1.28% |
MMLG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 23, 2020 | Dec 24, 2020 | Dec 31, 2020 | $0.0610 | 0.254% |
FAQ
Click here for our free guide on how to buy First Trust Multi-Manager Large Growth ETF ETF.
