First Trust Small Cap US Equity Select ETF Forecast

Green day on Wednesday for First Trust Small Cap US Equity Select ETF after gaining 0.229%
(Updated on May 01, 2024)

RNSC Signals & Forecast

There are mixed signals in the ETF today. The First Trust Small Cap US Equity Select 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 $27.41 and $27.79. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.37%. 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). First Trust Small Cap US Equity Select has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The ETF had a Golden Star Signal on Tuesday, June 27, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for First Trust Small Cap US Equity Select ETF

First Trust Small Cap US Equity Select finds support from accumulated volume at $27.13 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 $0.140 between high and low, or 0.517%. For the last week the ETF has had daily average volatility of 0.551%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RNSC) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect First Trust Small Cap US Equity Select ETF to open at $27.16, and during the day (based on 14 day Average True Range), to move between $26.83 and $27.47, which gives a possible trading interval of +/-$0.320 (+/-1.18%) up or down from last closing price. If First Trust Small Cap US Equity Select ETF takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $27.13 (0.09%) than the resistance at $27.43 (1.02%), 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 Small Cap US Equity Select ETF ETF A Buy?

First Trust Small Cap US Equity Select 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: -2.377 Sell Candidate Unchanged

Predicted Opening Price for First Trust Small Cap US Equity Select ETF of Thursday, May 2, 2024

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