First Trust ISE Cloud Computing Index ETF Forecast
Green day on Wednesday for First Trust ISE Cloud Computing Index
(Updated on May 01, 2024)
The First Trust ISE Cloud Computing Index ETF price gained 0.287% on the last trading day (Wednesday, 1st May 2024), rising from $90.60 to $90.86. During the last trading day the ETF fluctuated 2.73% from a day low at $90.41 to a day high of $92.88. The price has been going up and down for this period, and there has been a 0.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 93 thousand more shares were traded than the day before. In total, 163 thousand shares were bought and sold for approximately $14.79 million.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust ISE Cloud Computing Index ETF with a 90% probability to be traded between $86.88 and $94.76 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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SKYY Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust ISE Cloud Computing Index 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 $91.92 and $93.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -2.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Monday, March 04, 2024 and based on theory for this formation the price should fall by -9.30% to $82.41 within 15 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for First Trust ISE Cloud Computing Index ETF
First Trust ISE Cloud Computing Index finds support from accumulated volume at $90.10 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 $2.47 (2.73%) between high and low. For the last week, the ETF has had daily average volatility of 1.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKYY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect First Trust ISE Cloud Computing Index Fund to open at $91.38, and during the day (based on 14 day Average True Range), to move between $88.96 and $92.76, which gives a possible trading interval of +/-$1.90 (+/-2.09%) up or down from last closing price. If First Trust ISE Cloud Computing Index Fund takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.10 (0.84%) than the resistance at $93.12 (2.49%), 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 ISE Cloud Computing Index Fund ETF A Buy?
First Trust ISE Cloud Computing Index 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.
Current score: -2.300 Sell Candidate Unchanged
Predicted Opening Price for First Trust ISE Cloud Computing Index Fund of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $91.38 ( 0.576%) | $90.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.85 | 3.29 % | |
| R2 | 92.91 | 2.26 % | ||
| R1 | 92.33 | 1.61 % | ||
| Current price: | 90.86 | |||
| Support | S1 | 90.44 | -0.462 % | |
| S2 | 89.86 | -1.10 % | ||
| S3 | 88.91 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.87 | 4.41 % | |
| R2 | 94.79 | 4.33 % | ||
| R1 | 93.12 | 2.49 % | ||
| Current price | 90.86 | |||
| Support | S1 | 90.10 | -0.84% | |
| S2 | 89.87 | -1.09% | ||
| S3 | 89.31 | -1.71% |
SKYY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2022 | Sep 23, 2022 | Sep 30, 2022 | $0.0110 | 0.0182% |
| 2 | Jun 23, 2022 | Jun 24, 2022 | Jun 30, 2022 | $0.0360 | 0.0546% |
| 3 | Mar 24, 2022 | Mar 25, 2022 | Mar 31, 2022 | $0.0830 | 0.0917% |
| 4 | Dec 22, 2021 | Dec 23, 2021 | Dec 31, 2021 | $0.677 | 0.649% |
| 5 | Sep 22, 2021 | Sep 23, 2021 | Sep 30, 2021 | $0.0410 | 0.0389% |
FAQ
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