First Trust NASDAQ-100- Technology Index ETF Forecast
First Trust NASDAQ-100- Technology Index ETF downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The First Trust NASDAQ-100- Technology Index ETF price fell by -1.01% on the last day (Thursday, 18th Apr 2024) from $179.73 to $177.92. During the last trading day the ETF fluctuated 1.45% from a day low at $177.69 to a day high of $180.26. The price has been going up and down for this period, and there has been a -4.46% loss for the last 2 weeks. Volume has increased on the last day by 20 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, 97 thousand shares were bought and sold for approximately $17.34 million.
Given the current short-term trend, the ETF is expected to rise 2.03% during the next 3 months and, with a 90% probability hold a price between $181.53 and $201.50 at the end of this 3-month period.
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QTEC Signals & Forecast
There are few to no technical positive signals at the moment. The First Trust NASDAQ-100- Technology Index 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 $183.98 and $189.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -9.07%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for First Trust NASDAQ-100- Technology Index ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $2.57 between high and low, or 1.45%. For the last week the ETF has had daily average volatility of 1.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QTEC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect First Trust NASDAQ-100- Technology Index Fund to open at $178.62, and during the day (based on 14 day Average True Range), to move between $174.54 and $181.30, which gives a possible trading interval of +/-$3.38 (+/-1.90%) up or down from last closing price. If First Trust NASDAQ-100- Technology Index Fund takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $179.37, some $1.45 (0.81%) from the current price of $177.92, our system finds the risk reward not very attractive.
Is First Trust NASDAQ-100- Technology Index Fund ETF A Buy?
The First Trust NASDAQ-100- Technology Index ETF holds several negative signals and despite the positive trend, we believe First Trust NASDAQ-100- Technology Index will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.220 Sell Candidate Downgraded
Predicted Opening Price for First Trust NASDAQ-100- Technology Index Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $178.62 ( 0.395%) | $177.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QTEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 181.19 | 1.84 % | |
| R2 | 180.21 | 1.29 % | ||
| R1 | 179.61 | 0.95 % | ||
| Current price: | 177.92 | |||
| Support | S1 | 177.64 | -0.156 % | |
| S2 | 177.04 | -0.497 % | ||
| S3 | 176.05 | -1.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 192.75 | 8.34 % | |
| R2 | 189.83 | 6.69 % | ||
| R1 | 179.37 | 0.81 % | ||
| Current price | 177.92 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
QTEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0084 | 0.0044% |
| 2 | Dec 22, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.0312 | 0.0178% |
| 3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0310 | 0.0213% |
| 4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.0590 | 0.0401% |
| 5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.117 | 0.0896% |
FAQ
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