First Trust Exchange-Traded Fund III ETF Forecast

Evaluation of First Trust Exchange-Traded Fund III ETF downgraded after the last trading session.
(Updated on Apr 24, 2024)

RFEU Signals & Forecast

There are mixed signals in the ETF today. The First Trust Exchange-Traded Fund III 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 $64.62. On a fall, the ETF will find some support from the short-term average at $63.44. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.82%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for First Trust Exchange-Traded Fund III ETF

First Trust Exchange-Traded Fund III finds support from accumulated volume at $63.23 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0842%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RFEU) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF to open at $63.94, and during the day (based on 14 day Average True Range), to move between $63.47 and $64.41, which gives a possible trading interval of +/-$0.469 (+/-0.73%) up or down from last closing price. If First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $64.23 (0.46%) than the support at $63.23 (1.11%), 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 Exchange-Traded Fund III RiverFront Dynamic Europe ETF ETF A Buy?

First Trust Exchange-Traded Fund III holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Buy to a Sell candidate.

Current score: -1.168 Sell Candidate Downgraded

Predicted Opening Price for First Trust Exchange-Traded Fund III RiverFront Dynamic Europe ETF of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.