First Trust Exchange-Traded Fund III ETF Forecast
First Trust Exchange-Traded Fund III ETF downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The First Trust Exchange-Traded Fund III ETF price fell by -2.62% on the last day (Tuesday, 30th Apr 2024) from $64.87 to $63.17. During the last trading day the ETF fluctuated 0% from a day low at $63.17 to a day high of $63.17. The price has risen in 7 of the last 10 days and is up by 0.21% over the past 2 weeks. Volume has increased on the last day by 44 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, 47 shares were bought and sold for approximately $2.97 thousand.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $62.71 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect First Trust Exchange-Traded Fund III ETF with a 90% probability to be traded between $63.45 and $66.87 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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RFEU Signals & Forecast
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. 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 $64.16 and $64.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.62%. Further fall is indicated until a new bottom pivot has been found. First Trust Exchange-Traded Fund III gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $63.15 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RFEU) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF to open at $63.17, and during the day (based on 14 day Average True Range), to move between $62.64 and $63.70, which gives a possible trading interval of +/-$0.526 (+/-0.83%) 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 1.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $63.15 (0.03%) than the resistance at $63.23 (0.10%), 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 Exchange-Traded Fund III RiverFront Dynamic Europe ETF ETF A Buy?
First Trust Exchange-Traded Fund III holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -2.568 Sell Candidate Downgraded
Predicted Opening Price for First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$63.17 ( 0%) | $63.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RFEU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.17 | . | |
R2 | 63.17 | . | ||
R1 | 63.17 | . | ||
Current price: | 63.17 | |||
Support | S1 | 63.17 | . | |
S2 | 63.17 | . | ||
S3 | 63.17 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 65.66 | 3.94 % | |
R2 | 65.30 | 3.37 % | ||
R1 | 63.23 | 0.0959 % | ||
Current price | 63.17 | |||
Support | S1 | 63.15 | -0.0306% | |
S2 | 63.09 | -0.129% | ||
S3 | 62.95 | -0.347% |
RFEU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.312 | 0.493% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.186 | 0.323% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $1.64 | 2.73% |
4 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $1.22 | 2.15% |
5 | Sep 22, 2022 | Sep 23, 2022 | Sep 30, 2022 | $0.242 | 0.485% |
FAQ
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