Fidelity Nasdaq Composite Index Tracking ETF Forecast
Fidelity Nasdaq Composite Index Tracking ETF upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Fidelity Nasdaq Composite Index Tracking ETF price fell by -0.743% on the last day (Thursday, 25th Apr 2024) from $61.95 to $61.49. During the last trading day the ETF fluctuated 1.89% from a day low at $60.46 to a day high of $61.60. The price has fallen in 7 of the last 10 days and is down by -4.96% for this period. Volume has increased on the last day by 103 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 225 thousand shares were bought and sold for approximately $13.84 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.17% during the next 3 months and, with a 90% probability hold a price between $61.58 and $66.33 at the end of this 3-month period.
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ONEQ Signals & Forecast
There are mixed signals in the ETF today. The Fidelity Nasdaq Composite Index Tracking 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 $63.37. On a fall, the ETF will find some support from the short-term average at $61.36. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.18%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Fidelity Nasdaq Composite Index Tracking ETF
Fidelity Nasdaq Composite Index Tracking finds support from accumulated volume at $60.83 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 $1.14 (1.89%) between high and low. For the last week, the ETF has had daily average volatility of 1.80%.
Our recommended stop-loss: $58.67 (-4.58%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ONEQ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Fidelity Nasdaq Composite Index Tracking Stock to open at $61.18, and during the day (based on 14 day Average True Range), to move between $60.49 and $62.49, which gives a possible trading interval of +/-$1.00 (+/-1.62%) up or down from last closing price. If Fidelity Nasdaq Composite Index Tracking Stock takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $60.83 (1.07%) than the resistance at $62.40 (1.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fidelity Nasdaq Composite Index Tracking Stock ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fidelity Nasdaq Composite Index Tracking ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.613 Buy Candidate Upgraded
Predicted Opening Price for Fidelity Nasdaq Composite Index Tracking Stock of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$61.18 ( 0.497%) | $61.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONEQ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 62.33 | 1.36 % | |
R2 | 61.89 | 0.653 % | ||
R1 | 61.62 | 0.214 % | ||
Current price: | 61.49 | |||
Support | S1 | 60.75 | -1.21 % | |
S2 | 60.48 | -1.65 % | ||
S3 | 60.04 | -2.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.92 | 3.95 % | |
R2 | 62.58 | 1.77 % | ||
R1 | 62.40 | 1.48 % | ||
Current price | 61.49 | |||
Support | S1 | 60.83 | -1.07% | |
S2 | 60.52 | -1.58% | ||
S3 | 60.18 | -2.13% |
ONEQ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.112 | 0.174% |
2 | Dec 28, 2023 | Dec 28, 2023 | Jan 03, 2024 | $0.0160 | 0.0278% |
3 | Dec 15, 2023 | Dec 15, 2023 | Dec 20, 2023 | $0.112 | 0.192% |
4 | Sep 15, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.100 | 0.189% |
5 | Sep 08, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.0900 | 0.168% |
FAQ
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