First Trust NASDAQ ABA Community Bank ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
First Trust NASDAQ ABA Community Bank ETF price ended at $46.14 on Friday, after gaining 1.18%.
(Updated on May 03, 2024)
The First Trust NASDAQ ABA Community Bank ETF price gained 1.18% on the last trading day (Friday, 3rd May 2024), rising from $45.60 to $46.14. It has now gained 3 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 0.83% from a day low at $46.00 to a day high of $46.38. The price has risen in 6 of the last 10 days and is up by 4.17% over the past 2 weeks. Volume fell on the last day by -294 shares and in total, 2 thousand shares were bought and sold for approximately $111.79 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the ETF is expected to fall -2.29% during the next 3 months and, with a 90% probability hold a price between $41.36 and $45.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QABA Signals & Forecast
The First Trust NASDAQ ABA Community Bank 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 $44.95 and $44.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.40%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for First Trust NASDAQ ABA Community Bank ETF
First Trust NASDAQ ABA Community Bank finds support from accumulated volume at $46.11 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 controlled movements and therefore the general risk is considered 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 $0.380 between high and low, or 0.83%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: $44.34 (-3.90%) (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 (QABA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect First Trust NASDAQ ABA Community Bank Index Fund to open at $46.17, and during the day (based on 14 day Average True Range), to move between $45.37 and $46.90, which gives a possible trading interval of +/-$0.763 (+/-1.65%) up or down from last closing price. If First Trust NASDAQ ABA Community Bank Index Fund takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $46.14 (0.01%) than the support at $46.11 (0.06%), 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 NASDAQ ABA Community Bank Index Fund ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 2.162 Buy Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ ABA Community Bank Index Fund of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $46.17 ( 0.0766%) | $46.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QABA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.55 | 0.90 % | |
| R2 | 46.41 | 0.586 % | ||
| R1 | 46.32 | 0.391 % | ||
| Current price: | 46.14 | |||
| Support | S1 | 46.03 | -0.238 % | |
| S2 | 45.94 | -0.432 % | ||
| S3 | 45.79 | -0.747 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.94 | 1.74 % | |
| R2 | 46.67 | 1.16 % | ||
| R1 | 46.14 | 0.0065 % | ||
| Current price | 46.14 | |||
| Support | S1 | 46.11 | -0.0585% | |
| S2 | 45.96 | -0.384% | ||
| S3 | 45.08 | -2.29% |
QABA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.273 | 0.587% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.360 | 0.721% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.309 | 0.777% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.337 | 0.85% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.346 | 0.80% |
FAQ
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