First Trust Japan AlphaDEX Fund ETF Forecast
Stronger technical forecast for First Trust Japan AlphaDEX Fund ETF price after Tuesday trading.
(Updated on Apr 23, 2024)
The First Trust Japan AlphaDEX Fund ETF price fell by -0.606% on the last day (Tuesday, 23rd Apr 2024) from $52.84 to $52.52. During the last trading day the ETF fluctuated 1.01% from a day low at $52.37 to a day high of $52.90. The price has fallen in 7 of the last 10 days and is down by -4.65% for this period. Volume has increased on the last day by 2 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, 6 thousand shares were bought and sold for approximately $340.17 thousand.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 4.92% during the next 3 months and, with a 90% probability hold a price between $54.93 and $58.82 at the end of this 3-month period.
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FJP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.478%. 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 Japan AlphaDEX Fund ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $52.78 and $54.11. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). First Trust Japan AlphaDEX Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for First Trust Japan AlphaDEX Fund ETF
First Trust Japan AlphaDEX Fund finds support from accumulated volume at $52.47 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.528 between high and low, or 1.01%. For the last week the ETF has had daily average volatility of 1.04%.
Our recommended stop-loss: $49.81 (-5.17%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (FJP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect First Trust Japan AlphaDEX Fund to open at $52.60, and during the day (based on 14 day Average True Range), to move between $51.77 and $53.27, which gives a possible trading interval of +/-$0.745 (+/-1.42%) up or down from last closing price. If First Trust Japan AlphaDEX Fund takes out the full calculated possible swing range there will be an estimated 2.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $52.47 (0.10%) than the resistance at $53.23 (1.35%), 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 Japan AlphaDEX Fund ETF A Buy?
First Trust Japan AlphaDEX Fund 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.280 Hold/Accumulate Upgraded
Predicted Opening Price for First Trust Japan AlphaDEX Fund of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$52.60 ( 0.147%) | $52.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FJP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 53.12 | 1.15 % | |
R2 | 52.92 | 0.768 % | ||
R1 | 52.80 | 0.531 % | ||
Current price: | 52.52 | |||
Support | S1 | 52.40 | -0.236 % | |
S2 | 52.27 | -0.473 % | ||
S3 | 52.07 | -0.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 54.74 | 4.23 % | |
R2 | 54.38 | 3.54 % | ||
R1 | 53.23 | 1.35 % | ||
Current price | 52.52 | |||
Support | S1 | 52.47 | -0.0952% | |
S2 | 52.07 | -0.86% | ||
S3 | 51.30 | -2.32% |
FJP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.300 | 0.544% |
2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $1.12 | 2.22% |
3 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.556 | 1.16% |
4 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0840 | 0.185% |
5 | Dec 22, 2022 | Dec 23, 2022 | Dec 30, 2022 | $0.164 | 0.386% |
FAQ
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