First Trust NASDAQ Rising Dividend ETF Forecast
Green day on Thursday for First Trust NASDAQ Rising Dividend ETF after gaining 0.537%
(Updated on Mar 28, 2024)
The First Trust NASDAQ Rising Dividend ETF price gained 0.537% on the last trading day (Thursday, 28th Mar 2024), rising from $55.87 to $56.17. During the last trading day the ETF fluctuated 0.671% from a day low at $55.91 to a day high of $56.29. The price has risen in 7 of the last 10 days and is up by 3.58% over the past 2 weeks. Volume fell on the last day by -43 thousand shares and in total, 769 thousand shares were bought and sold for approximately $43.18 million. 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.
The ETF has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $55.64, a level that may pose a second chance to hit a runner. According to fan-theory $58.10 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RDVY Signals & Forecast
The First Trust NASDAQ Rising Dividend 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 $55.58 and $53.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 10.88%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for First Trust NASDAQ Rising Dividend ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $51.81 and $51.27. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, First Trust NASDAQ Rising Dividend finds support just below today's level at $51.81. If this is broken, then the next support from accumulated volume will be at $51.27 and $51.22.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.375 between high and low, or 0.671%. For the last week the ETF has had daily average volatility of 0.81%.
Our recommended stop-loss: $54.46 (-3.04%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (RDVY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust NASDAQ Rising Dividend Achievers ETF to open at $56.12, and during the day (based on 14 day Average True Range), to move between $55.63 and $56.71, which gives a possible trading interval of +/-$0.542 (+/-0.97%) up or down from last closing price. If First Trust NASDAQ Rising Dividend Achievers ETF takes out the full calculated possible swing range there will be an estimated 1.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $51.81, some $4.36 (7.76%) from the current price of $56.17, our system finds the risk reward attractive.
Is First Trust NASDAQ Rising Dividend Achievers ETF ETF A Buy?
First Trust NASDAQ Rising Dividend holds several positive signals and has broken the weak rising trend up. As the ETF is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.713 Strong Buy Candidate Unchanged
Predicted Opening Price for First Trust NASDAQ Rising Dividend Achievers ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$56.12 ( 0.0860%) | $56.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RDVY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 56.50 | 0.582 % | |
R2 | 56.35 | 0.327 % | ||
R1 | 56.26 | 0.169 % | ||
Current price: | 56.17 | |||
Support | S1 | 55.98 | -0.341 % | |
S2 | 55.89 | -0.499 % | ||
S3 | 55.75 | -0.754 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 56.17 | |||
Support | S1 | 51.81 | -7.76% | |
S2 | 51.27 | -8.72% | ||
S3 | 51.22 | -8.81% |
RDVY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.224 | 0.398% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.342 | 0.662% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.224 | 0.487% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.302 | 0.641% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.211 | 0.470% |
FAQ
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