First Trust Global Tactical Commodity ETF Forecast
Stronger technical forecast for First Trust Global Tactical Commodity ETF price after Thursday trading.
(Updated on Mar 28, 2024)
The First Trust Global Tactical Commodity ETF price gained 0.81% on the last trading day (Thursday, 28th Mar 2024), rising from $23.53 to $23.72. During the last trading day the ETF fluctuated 0.81% from a day low at $23.58 to a day high of $23.77. The price has fallen in 6 of the last 10 days but is still up by 0.42% 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, 536 thousand more shares were traded than the day before. In total, 838 thousand shares were bought and sold for approximately $19.88 million.
The ETF 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 ETF is expected to rise 5.74% during the next 3 months and, with a 90% probability hold a price between $24.58 and $25.44 at the end of this 3-month period.
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FTGC Signals & Forecast
The First Trust Global Tactical Commodity ETF 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 $23.63 and $23.28. 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). 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, March 18, 2024, and so far it has fallen -0.712%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the long-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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, February 28, 2024 in the long-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 ETF in question.
Support, Risk & Stop-loss for First Trust Global Tactical Commodity ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $22.53 and $22.49. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, First Trust Global Tactical Commodity finds support just below today's level at $22.53. If this is broken, then the next support from accumulated volume will be at $22.49 and $22.42.
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 $0.190 between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 0.760%.
Our recommended stop-loss: $22.80 (-3.89%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (FTGC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust Global Tactical Commodity Strategy Fund to open at $23.69, and during the day (based on 14 day Average True Range), to move between $23.49 and $23.95, which gives a possible trading interval of +/-$0.225 (+/-0.95%) up or down from last closing price. If First Trust Global Tactical Commodity Strategy Fund takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.81 (0.38%) than the support at $22.53 (5.02%), 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 Global Tactical Commodity Strategy Fund ETF 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 Global Tactical Commodity ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.419 Buy Candidate Upgraded
Predicted Opening Price for First Trust Global Tactical Commodity Strategy Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$23.69 ( 0.126%) | $23.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTGC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.88 | 0.675 % | |
R2 | 23.81 | 0.369 % | ||
R1 | 23.76 | 0.180 % | ||
Current price: | 23.72 | |||
Support | S1 | 23.62 | -0.432 % | |
S2 | 23.57 | -0.622 % | ||
S3 | 23.50 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.89 | 0.717 % | |
R2 | 23.85 | 0.548 % | ||
R1 | 23.81 | 0.379 % | ||
Current price | 23.72 | |||
Support | S1 | 22.53 | -5.02% | |
S2 | 22.49 | -5.19% | ||
S3 | 22.42 | -5.48% |
FTGC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.164 | 0.691% |
2 | Dec 14, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.212 | 0.94% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.188 | 0.783% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.189 | 0.83% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.160 | 0.681% |
FAQ
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