First Trust Developed International Equity Select ETF Stock Analysis
Technical stock analysis for 23 January 2019
First Trust Developed International Equity Select ETF gained 0.56% in the last trading day, rising from $46.80 to $47.06 The price has risen in 6 of the last 10 days and is up by 1.47% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1 154 more shares were traded than the day before. In total, 2 271 shares bought and sold for approximately $106 873.00.
Close price at the end of the last trading day (Wednesday, 23rd Jan 2019) of the RNDM stock was $47.06. This is 0.56% more than the trading day before Tuesday, 22nd Jan 2019.
During day the stock fluctuated 0.55% from a day low at $47.02 to a day high of $47.28.
30 day high of the RNDM stock price was $47.42 and low was $44.00.
90 day high was $48.20 and low was $44.00.
52 week high for the First Trust Developed International Equity Select ETF - $55.12 and low - $44.00.
First Trust Developed International Equity Select ETF lies the upper part of a falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $47.24 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.91% during the next 3 months and, with 90% probability hold a price between $42.58 and $45.87 at the end of this period.
First Trust Developed International Equity Select ETF holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $46.89 and $46.06. A break down below any of these levels will issue sell signals. First Trust Developed International Equity Select ETF has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday January 18, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
The stock holds a RSI14 at 78 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
First Trust Developed International Equity Select ETF finds support from accumulated volume at $46.81.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.26 (0.55%) between high and low. For the last week, the stock has had a daily average volatility of 0.45%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $45.23 (-3.89%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
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First Trust Developed International Equity Select ETF holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.