First Trust High Income ETF Forecast
Weaker technical forecast for First Trust High Income as ETF downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The First Trust High Income ETF price fell by -0.0909% on the last day (Wednesday, 24th Apr 2024) from $22.00 to $21.98. During the last trading day the ETF fluctuated 0.639% from a day low at $21.90 to a day high of $22.04. The price has fallen in 7 of the last 10 days and is down by -1.26% for this period. Volume has increased on the last day by 60 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, 303 thousand shares were bought and sold for approximately $6.66 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust High Income ETF with a 90% probability to be traded between $22.15 and $23.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FTHI Signals & Forecast
There are mixed signals in the ETF today. The First Trust High Income 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 $22.25. On a fall, the ETF will find some support from the short-term average at $21.92. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.06%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for First Trust High Income ETF
First Trust High Income finds support from accumulated volume at $21.85 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 $0.140 between high and low, or 0.639%. For the last week the ETF has had daily average volatility of 0.85%.
Our recommended stop-loss: $20.92 (-4.84%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (FTHI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Trust High Income ETF to open at $21.97, and during the day (based on 14 day Average True Range), to move between $21.80 and $22.16, which gives a possible trading interval of +/-$0.180 (+/-0.82%) up or down from last closing price. If First Trust High Income ETF takes out the full calculated possible swing range there will be an estimated 1.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.00 (0.09%) than the support at $21.85 (0.59%), 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 High Income ETF ETF A Buy?
First Trust High Income 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.630 Hold/Accumulate Downgraded
Predicted Opening Price for First Trust High Income ETF of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$21.97 ( 0.0303%) | $21.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTHI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.11 | 0.607 % | |
R2 | 22.06 | 0.363 % | ||
R1 | 22.03 | 0.213 % | ||
Current price: | 21.98 | |||
Support | S1 | 21.92 | -0.274 % | |
S2 | 21.89 | -0.424 % | ||
S3 | 21.83 | -0.667 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.14 | 0.728 % | |
R2 | 22.09 | 0.500 % | ||
R1 | 22.00 | 0.0910 % | ||
Current price | 21.98 | |||
Support | S1 | 21.85 | -0.591% | |
S2 | 21.84 | -0.637% | ||
S3 | 21.69 | -1.32% |
FTHI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.160 | 0.712% |
2 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.160 | 0.724% |
3 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.160 | 0.740% |
4 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.152 | 0.712% |
5 | Nov 20, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.152 | 0.725% |
FAQ
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