Fidelity Nasdaq Composite Index Tracking ETF Forecast
Red day on Thursday for Fidelity Nasdaq Composite Index Tracking ETF after losing 0.421%
(Updated on Apr 18, 2024)
The Fidelity Nasdaq Composite Index Tracking ETF price fell by -0.421% on the last day (Thursday, 18th Apr 2024) from $61.77 to $61.51. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 1.29% from a day low at $61.37 to a day high of $62.16. The price has fallen in 6 of the last 10 days and is down by -2.77% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -70 thousand shares and in total, 156 thousand shares were bought and sold for approximately $9.61 million.
Given the current short-term trend, the ETF is expected to rise 5.03% during the next 3 months and, with a 90% probability hold a price between $64.61 and $68.22 at the end of this 3-month period.
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ONEQ Signals & Forecast
There are few to no technical positive signals at the moment. The Fidelity Nasdaq Composite Index Tracking 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 $62.91 and $63.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Fidelity Nasdaq Composite Index Tracking ETF
Fidelity Nasdaq Composite Index Tracking finds support from accumulated volume at $60.52 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 $0.789 between high and low, or 1.29%. For the last week the ETF has had daily average volatility of 1.63%.
Our recommended stop-loss: $57.89 (-5.88%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (ONEQ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Fidelity Nasdaq Composite Index Tracking Stock to open at $61.68, and during the day (based on 14 day Average True Range), to move between $60.61 and $62.41, which gives a possible trading interval of +/-$0.90 (+/-1.47%) up or down from last closing price. If Fidelity Nasdaq Composite Index Tracking Stock takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.40 (1.45%) than the support at $60.52 (1.61%), 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 Fidelity Nasdaq Composite Index Tracking Stock ETF A Buy?
Fidelity Nasdaq Composite Index Tracking 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.
Current score: -0.444 Hold/Accumulate Unchanged
Predicted Opening Price for Fidelity Nasdaq Composite Index Tracking Stock of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $61.68 ( 0.276%) | $61.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONEQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.47 | 1.56 % | |
| R2 | 62.17 | 1.07 % | ||
| R1 | 61.98 | 0.766 % | ||
| Current price: | 61.51 | |||
| Support | S1 | 61.38 | -0.214 % | |
| S2 | 61.19 | -0.517 % | ||
| S3 | 60.89 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.92 | 3.92 % | |
| R2 | 62.58 | 1.74 % | ||
| R1 | 62.40 | 1.45 % | ||
| Current price | 61.51 | |||
| Support | S1 | 60.52 | -1.61% | |
| S2 | 60.34 | -1.90% | ||
| S3 | 59.71 | -2.93% |
ONEQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2024 | Mar 15, 2024 | Mar 20, 2024 | $0.112 | 0.174% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Jan 03, 2024 | $0.0160 | 0.0278% |
| 3 | Dec 15, 2023 | Dec 15, 2023 | Dec 20, 2023 | $0.112 | 0.192% |
| 4 | Sep 15, 2023 | Sep 15, 2023 | Sep 20, 2023 | $0.100 | 0.189% |
| 5 | Sep 08, 2023 | Jun 16, 2023 | Jun 22, 2023 | $0.0900 | 0.168% |
FAQ
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