First Trust Senior Loan Fund ETF Forecast
First Trust Senior Loan Fund ETF downgraded to Hold/Accumulate
(Updated on Apr 23, 2024)
The First Trust Senior Loan Fund ETF price fell by -0.519% on the last day (Tuesday, 23rd Apr 2024) from $46.28 to $46.04. During the last trading day the ETF fluctuated 0.130% from a day low at $45.98 to a day high of $46.04. The price has fallen in 6 of the last 10 days and is down by -0.5% for this period. Volume has increased on the last day by 139 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, 318 thousand shares were bought and sold for approximately $14.63 million.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $46.07 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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FTSL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Senior Loan 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 $46.16 and $46.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -0.519%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Friday, June 30, 2023 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 Friday, June 30, 2023 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.
A sell signal from a double top formation was found on Monday, April 22, 2024 with a target of $46.23. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for First Trust Senior Loan Fund ETF
First Trust Senior Loan Fund finds support from accumulated volume at $45.98 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 $0.0600 between high and low, or 0.130%. For the last week the ETF has had daily average volatility of 0.300%.
Our recommended stop-loss: $43.59 (-5.31%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FTSL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect First Trust Senior Loan Fund ETF to open at $46.02, and during the day (based on 14 day Average True Range), to move between $45.87 and $46.21, which gives a possible trading interval of +/-$0.174 (+/-0.38%) up or down from last closing price. If First Trust Senior Loan Fund ETF takes out the full calculated possible swing range there will be an estimated 0.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $46.09 (0.11%) than the support at $45.98 (0.13%), 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 Senior Loan Fund ETF ETF A Buy?
First Trust Senior Loan 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. 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: -0.818 Hold/Accumulate Downgraded
Predicted Opening Price for First Trust Senior Loan Fund ETF of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $46.02 ( 0.0434%) | $46.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FTSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.08 | 0.0869 % | |
| R2 | 46.06 | 0.0371 % | ||
| R1 | 46.04 | 0.0063 % | ||
| Current price: | 46.04 | |||
| Support | S1 | 46.00 | -0.0932 % | |
| S2 | 45.98 | -0.124 % | ||
| S3 | 45.96 | -0.174 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.18 | 0.304 % | |
| R2 | 46.15 | 0.239 % | ||
| R1 | 46.09 | 0.109 % | ||
| Current price | 46.04 | |||
| Support | S1 | 45.98 | -0.130% | |
| S2 | 45.91 | -0.282% | ||
| S3 | 45.87 | -0.369% |
FTSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.300 | 0.649% |
| 2 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.300 | 0.650% |
| 3 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.308 | 0.671% |
| 4 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.303 | 0.657% |
| 5 | Nov 20, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.295 | 0.645% |
FAQ
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