First Trust Senior Floating Rate Income Stock Forecast
First Trust Senior Floating Rate Income stock price up 0.388% on Wednesday
(Updated on Mar 27, 2024)
The First Trust Senior Floating Rate Income stock price gained 0.388% on the last trading day (Wednesday, 27th Mar 2024), rising from $10.30 to $10.34. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.484% from a day low at $10.33 to a day high of $10.38. The price has risen in 6 of the last 10 days and is up by 1.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 63 thousand shares were bought and sold for approximately $648.64 thousand.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.05% during the next 3 months and, with a 90% probability hold a price between $10.66 and $10.94 at the end of this 3-month period.
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FCT Signals & Forecast
The First Trust Senior Floating Rate Income stock 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 $10.32 and $10.14. 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). First Trust Senior Floating Rate Income has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, March 20, 2024, and so far it has fallen -0.289%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, January 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, January 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for First Trust Senior Floating Rate Income stock
First Trust Senior Floating Rate Income finds support from accumulated volume at $10.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0500 between high and low, or 0.484%. For the last week the stock has had daily average volatility of 0.758%.
Our recommended stop-loss: $9.96 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (FCT) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect First Trust Senior Floating Rate Income Fund II to open at $10.35, and during the day (based on 14 day Average True Range), to move between $10.26 and $10.42, which gives a possible trading interval of +/-$0.0834 (+/-0.81%) up or down from last closing price. If First Trust Senior Floating Rate Income Fund II takes out the full calculated possible swing range there will be an estimated 1.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.37 (0.29%) than the support at $10.13 (2.03%), 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 Senior Floating Rate Income Fund II stock 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 Senior Floating Rate Income stock to perform well in the short-term.
Current score: 1.867 Buy Candidate Unchanged
Predicted Opening Price for First Trust Senior Floating Rate Income Fund II of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$10.35 ( 0.0967%) | $10.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.40 | 0.580 % | |
R2 | 10.38 | 0.396 % | ||
R1 | 10.37 | 0.281 % | ||
Current price: | 10.34 | |||
Support | S1 | 10.33 | -0.0880 % | |
S2 | 10.32 | -0.202 % | ||
S3 | 10.30 | -0.387 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 10.37 | 0.290 % | ||
Current price | 10.34 | |||
Support | S1 | 10.13 | -2.03% | |
S2 | 10.09 | -2.42% | ||
S3 | 9.85 | -4.74% |
FCT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 01, 2024 | Apr 15, 2024 | $0.0970 | 0.94% |
2 | Feb 20, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.0970 | 0.96% |
3 | Jan 22, 2024 | Feb 01, 2024 | Feb 15, 2024 | $0.0970 | 0.96% |
4 | Dec 20, 2023 | Jan 02, 2024 | Jan 16, 2024 | $0.0970 | 0.99% |
5 | Nov 20, 2023 | Dec 01, 2023 | Dec 15, 2023 | $0.0970 | 0.97% |
FAQ
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