First Trust Emerging Markets AlphaDEX ETF Forecast

First Trust Emerging Markets AlphaDEX ETF upgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)

FEM Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Emerging Markets AlphaDEX 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 $23.15. On a fall, the ETF will find some support from the short-term average at $22.98. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for First Trust Emerging Markets AlphaDEX ETF

First Trust Emerging Markets AlphaDEX finds support from accumulated volume at $22.83 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.170 between high and low, or 0.741%. For the last week the ETF has had daily average volatility of 0.727%

Our recommended stop-loss: $21.71 (-5.80%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (FEM) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect First Trust Emerging Markets AlphaDEX Fund to open at $23.03, and during the day (based on 14 day Average True Range), to move between $22.81 and $23.29, which gives a possible trading interval of +/-$0.239 (+/-1.04%) up or down from last closing price. If First Trust Emerging Markets AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.08 (0.13%) than the support at $22.83 (0.95%), 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 Emerging Markets AlphaDEX Fund ETF A Buy?

First Trust Emerging Markets AlphaDEX holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.197 Hold/Accumulate Upgraded

Predicted Opening Price for First Trust Emerging Markets AlphaDEX Fund of Wednesday, April 24, 2024

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