First Trust Energy Income & Growth Fund Stock Forecast
Green day on Friday for First Trust Energy Income & Growth Fund stock after gaining 1.23%
(Updated on Apr 19, 2024)
The First Trust Energy Income & Growth Fund stock price gained 1.23% on the last trading day (Friday, 19th Apr 2024), rising from $16.30 to $16.50. 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 2.09% from a day low at $16.30 to a day high of $16.64. The price has been going up and down for this period, and there has been a -0.36% loss 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, 43 thousand more shares were traded than the day before. In total, 96 thousand shares were bought and sold for approximately $1.59 million.
The stock 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 stock is expected to rise 19.76% during the next 3 months and, with a 90% probability hold a price between $19.29 and $20.33 at the end of this 3-month period.
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FEN Signals & Forecast
The First Trust Energy Income & Growth Fund 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 $16.25 and $16.04. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -0.422%. 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).
Support, Risk & Stop-loss for First Trust Energy Income & Growth Fund stock
On the downside, the stock finds support just below today's level from accumulated volume at $14.53 and $14.46. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, First Trust Energy Income & Growth Fund finds support just below today's level at $14.53. If this is broken, then the next support from accumulated volume will be at $14.46 and $14.15.
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 $0.340 between high and low, or 2.09%. For the last week the stock has had daily average volatility of 1.44%.
Our recommended stop-loss: $15.84 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (FEN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect First Trust Energy Income & Growth Fund to open at $16.48, and during the day (based on 14 day Average True Range), to move between $16.31 and $16.69, which gives a possible trading interval of +/-$0.193 (+/-1.17%) up or down from last closing price. If First Trust Energy Income & Growth Fund takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.53 (0.18%) than the support at $14.53 (11.94%), 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 Energy Income & Growth Fund 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 Energy Income & Growth Fund stock to perform well in the short-term.
Current score: 4.024 Buy Candidate Unchanged
Predicted Opening Price for First Trust Energy Income & Growth Fund of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $16.48 ( 0.121%) | $16.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.82 | 1.94 % | |
| R2 | 16.69 | 1.15 % | ||
| R1 | 16.61 | 0.666 % | ||
| Current price: | 16.50 | |||
| Support | S1 | 16.35 | -0.91 % | |
| S2 | 16.27 | -1.39 % | ||
| S3 | 16.14 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.57 | 0.424 % | |
| R2 | 16.56 | 0.364 % | ||
| R1 | 16.53 | 0.182 % | ||
| Current price | 16.50 | |||
| Support | S1 | 14.53 | -11.94% | |
| S2 | 14.46 | -12.36% | ||
| S3 | 14.15 | -14.24% |
FEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.400 | 2.42% |
| 2 | Jan 10, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.300 | 2.06% |
| 3 | Oct 10, 2023 | Oct 20, 2023 | Oct 31, 2023 | $0.300 | 2.12% |
| 4 | Jul 10, 2023 | Jul 21, 2023 | Jul 31, 2023 | $0.300 | 2.10% |
| 5 | Apr 10, 2023 | Apr 21, 2023 | Apr 28, 2023 | $0.300 | 2.31% |
FAQ
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