First Trust Exchange-Traded Fund VI - ETF Forecast

First Trust Exchange-Traded Fund VI - ETF upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)

SDVY Signals & Forecast

There are mixed signals in the ETF today. The First Trust Exchange-Traded Fund VI - 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 $33.56. On a fall, the ETF will find some support from the short-term average at $33.05. 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). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.00%. 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.

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

First Trust Exchange-Traded Fund VI - finds support from accumulated volume at $33.17 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 $0.300 (0.90%) between high and low. For the last week, the ETF has had daily average volatility of 1.38%.

Our recommended stop-loss: $31.64 (-5.00%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (SDVY) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF to open at $33.35, and during the day (based on 14 day Average True Range), to move between $32.81 and $33.79, which gives a possible trading interval of +/-$0.493 (+/-1.48%) up or down from last closing price. If First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $33.40 (0.30%) than the support at $33.17 (0.39%), 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 VI - First Trust SMID Cap Rising Dividend Achievers ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Exchange-Traded Fund VI - ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.609 Buy Candidate Upgraded

Predicted Opening Price for First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF of Monday, April 29, 2024

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