FMB Forecast and Technical Stock Analysis
Hold candidate since 2020-01-17 PDF
First Trust Managed Municipal ETF fell by -0.10% in the last day ( Friday, 17th Jan 2020 ) from $56.15 to $56.10 During the day the stock fluctuated 0.23% from a day low at $56.03 to a day high of $56.16. The price has risen in 7 of the last 10 days and is up by 0.66% over the past 2 weeks. Volume has increased in the last day by 20 965 shares but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 171 898 shares bought and sold for approximately $9.64 million.
- 30 day high of the FMB stock price was $56.17 and low was $55.32.
- 90 day high was $56.17 and low was $55.10.
- 52 week high for First Trust Managed Municipal ETF - $56.22 and low - $52.55.
First Trust Managed Municipal ETF is at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $56.16 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend, you can expect First Trust Managed Municipal ETF with a 90% probability to be traded between $56.34 and $56.86 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday January 16, 2020, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. First Trust Managed Municipal ETF holds buy signals from both short- and long-term moving averages. In addition, 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 $56.04 and $55.65. A break down below any of these levels will issue sell signals.
* 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.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 91 and the stock is extremely overbought on RSI14, so further reactions should be expected. Some stocks may have a long and hard correction after reaching so high an RSI, but not in all cases. However, the short-term risk has increased drastically and larger movements in the next couple of days can be expected.
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.
Support & Resistance
First Trust Managed Municipal ETF finds support from accumulated volume at $55.42.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.13 (0.23%) between high and low. For the last week, the stock has had daily average volatility of 0.17%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $54.82 (-2.27%) (This stock has low daily movements and this gives low risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from pivot top found 1 day(s) ago.)
0.17 %Average volatility
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First Trust Managed Municipal ETF 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 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 stock since last evaluation from a Buy Candidate to a Hold/Accumulate candidate.
Golden Star Signal
This unique signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives substantial returns. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!
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