First Trust Exchange-Traded Fund III ETF Forecast

First Trust Exchange-Traded Fund III ETF price up 0.415% on Friday
(Updated on Apr 19, 2024)

RFEU Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.415%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Exchange-Traded Fund III 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 $63.28 and $64.61. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for First Trust Exchange-Traded Fund III ETF

First Trust Exchange-Traded Fund III finds support from accumulated volume at $62.61 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 very controlled movements and therefore the general risk is considered very 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 $0.0018 between high and low, or 0.0029%. For the last week the ETF has had daily average volatility of 0.350%

Our recommended stop-loss: $59.26 (-5.74%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (RFEU) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF to open at $62.87, and during the day (based on 14 day Average True Range), to move between $62.46 and $63.28, which gives a possible trading interval of +/-$0.412 (+/-0.65%) up or down from last closing price. If First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $62.95 (0.13%) than the support at $62.61 (0.41%), 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 Exchange-Traded Fund III RiverFront Dynamic Europe ETF ETF A Buy?

First Trust Exchange-Traded Fund III holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.712 Hold/Accumulate Unchanged

Predicted Opening Price for First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.