First Trust Exchange-Traded Fund VI - ETF Forecast

First Trust Exchange-Traded Fund VI - ETF downgraded to Buy Candidate
(Updated on May 10, 2024)

SDVY Signals & Forecast

The First Trust Exchange-Traded Fund VI - 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 $34.06 and $33.66. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -0.174%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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

First Trust Exchange-Traded Fund VI - finds support from accumulated volume at $33.40 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 $0.297 between high and low, or 0.87%. For the last week the ETF has had daily average volatility of 0.84%.

Our recommended stop-loss: $33.17 (-3.65%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SDVY) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF to open at $34.47, and during the day (based on 14 day Average True Range), to move between $33.97 and $34.89, which gives a possible trading interval of +/-$0.457 (+/-1.33%) 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 2.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $34.49 (0.17%) than the support at $33.40 (2.99%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.207 Buy Candidate Downgraded

Predicted Opening Price for First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF of Monday, May 13, 2024

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