First Trust RBA American Industrial ETF Forecast

Red day on Thursday for First Trust RBA American Industrial
(Updated on Apr 25, 2024)

AIRR Signals & Forecast

There are mixed signals in the ETF today. The First Trust RBA American Industrial 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 $64.56. On a fall, the ETF will find some support from the short-term average at $62.99. 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. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -4.62%. 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). 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 RBA American Industrial ETF

First Trust RBA American Industrial finds support from accumulated volume at $63.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $1.27 between high and low, or 2.02%. For the last week, the ETF has had daily average volatility of 1.91%.

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

Trading Expectations (AIRR) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Trust RBA American Industrial Renaissance ETF to open at $63.91, and during the day (based on 14 day Average True Range), to move between $62.96 and $65.48, which gives a possible trading interval of +/-$1.26 (+/-1.96%) up or down from last closing price. If First Trust RBA American Industrial Renaissance ETF takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $63.65 (0.89%) than the resistance at $64.81 (0.92%), 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 RBA American Industrial Renaissance ETF ETF A Buy?

First Trust RBA American Industrial 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: -4.682 Sell Candidate Unchanged

Predicted Opening Price for First Trust RBA American Industrial Renaissance ETF of Friday, April 26, 2024

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