First Trust RBA American Industrial ETF Forecast
Evaluation of First Trust RBA American Industrial ETF downgraded after the last trading session.
(Updated on Mar 18, 2024)
The First Trust RBA American Industrial ETF price fell by -0.0631% on the last day (Monday, 18th Mar 2024) from $63.37 to $63.33. During the last trading day the ETF fluctuated 1.12% from a day low at $63.11 to a day high of $63.82. The price has been going up and down for this period, and there has been a -1.39% loss for the last 2 weeks. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 59 thousand shares were bought and sold for approximately $3.76 million.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 16.24% during the next 3 months and, with a 90% probability hold a price between $69.89 and $76.04 at the end of this 3-month period.
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AIRR Signals & Forecast
The First Trust RBA American Industrial ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $63.61. On a fall, the ETF will find some support from the long-term average at approximately $60.89. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, March 07, 2024, and so far it has fallen -1.59%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for First Trust RBA American Industrial ETF
First Trust RBA American Industrial finds support from accumulated volume at $60.92 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 $0.710 between high and low, or 1.12%. For the last week, the ETF has had daily average volatility of 1.34%.
Our recommended stop-loss: $61.27 (-3.25%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (AIRR) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect First Trust RBA American Industrial Renaissance ETF to open at $63.42, and during the day (based on 14 day Average True Range), to move between $62.31 and $64.35, which gives a possible trading interval of +/-$1.02 (+/-1.62%) 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 3.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.65 (0.51%) than the support at $60.92 (3.81%), 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 RBA American Industrial Renaissance ETF ETF A Buy?
First Trust RBA American Industrial holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.677 Hold/Accumulate Downgraded
Predicted Opening Price for First Trust RBA American Industrial Renaissance ETF of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
$63.42 ( 0.143%) | $63.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIRR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.13 | 1.26 % | |
R2 | 63.86 | 0.84 % | ||
R1 | 63.69 | 0.571 % | ||
Current price: | 63.33 | |||
Support | S1 | 63.15 | -0.285 % | |
S2 | 62.98 | -0.549 % | ||
S3 | 62.71 | -0.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.22 | 1.41 % | |
R2 | 64.13 | 1.26 % | ||
R1 | 63.65 | 0.505 % | ||
Current price | 63.33 | |||
Support | S1 | 60.92 | -3.81% | |
S2 | 55.37 | -12.57% | ||
S3 | 53.73 | -15.16% |
AIRR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0447 | 0.0773% |
2 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0190 | 0.0369% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0410 | 0.0758% |
4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0290 | 0.0604% |
5 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.0490 | 0.111% |
FAQ
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