First Trust NASDAQ-100 Equal Weighted ETF Forecast
First Trust NASDAQ-100 Equal Weighted ETF price ended at $118.24 on Wednesday, after gaining 0.374%.
(Updated on Apr 24, 2024)
The First Trust NASDAQ-100 Equal Weighted ETF price gained 0.374% on the last trading day (Wednesday, 24th Apr 2024), rising from $117.80 to $118.24. 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 0.89% from a day low at $117.75 to a day high of $118.79. The price has fallen in 6 of the last 10 days and is down by -2.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 59 thousand shares were bought and sold for approximately $6.94 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 NASDAQ-100 Equal Weighted ETF with a 90% probability to be traded between $114.05 and $122.68 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.
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QQEW Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.77%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust NASDAQ-100 Equal Weighted 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 $121.26. On a fall, the ETF will find some support from the short-term average at $116.85. 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).
Support, Risk & Stop-loss for First Trust NASDAQ-100 Equal Weighted ETF
First Trust NASDAQ-100 Equal Weighted finds support from accumulated volume at $118.00 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 $1.05 (0.89%) between high and low. For the last week, the ETF has had daily average volatility of 1.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QQEW) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Trust NASDAQ-100 Equal Weighted Index Fund to open at $118.26, and during the day (based on 14 day Average True Range), to move between $116.69 and $119.79, which gives a possible trading interval of +/-$1.55 (+/-1.31%) up or down from last closing price. If First Trust NASDAQ-100 Equal Weighted Index Fund takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $118.00 (0.20%) than the resistance at $119.48 (1.05%), 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 NASDAQ-100 Equal Weighted Index Fund ETF A Buy?
First Trust NASDAQ-100 Equal Weighted holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.315 Sell Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ-100 Equal Weighted Index Fund of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $118.26 ( 0.0155%) | $118.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQEW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 119.30 | 0.90 % | |
| R2 | 118.90 | 0.562 % | ||
| R1 | 118.66 | 0.353 % | ||
| Current price: | 118.24 | |||
| Support | S1 | 117.86 | -0.322 % | |
| S2 | 117.61 | -0.531 % | ||
| S3 | 117.21 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 121.59 | 2.83 % | |
| R2 | 119.75 | 1.28 % | ||
| R1 | 119.48 | 1.05 % | ||
| Current price | 118.24 | |||
| Support | S1 | 118.00 | -0.203% | |
| S2 | 117.87 | -0.313% | ||
| S3 | 115.05 | -2.70% |
QQEW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.215 | 0.174% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.323 | 0.275% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.160 | 0.154% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.154 | 0.144% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.182 | 0.181% |
FAQ
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