First Trust US Equity Dividend Select ETF Forecast and Stock Analysis
Technical RNDV stock analysis for Wednesday June 19, 2019.
First Trust US Equity Dividend Select ETF gained 0.28% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $21.61 to $21.67 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 0.00% from a day low at $21.67 to a day high of $21.67. The price has risen in 8 of the last 10 days and is up by 2.37% over the past 2 weeks. Volume fell in the last day by -1 441 shares, and in total, 227 shares bought and sold for approximately $4 919.09. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the RNDV stock price was $22.48 and low was $20.60.
- 90 day high was $22.77 and low was $20.60.
- 52 week high for the First Trust US Equity Dividend Select ETF - $22.82 and low - $18.38.
First Trust US Equity Dividend Select ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.25% during the next 3 months and, with 90% probability hold a price between $19.55 and $21.18 at the end of this period.
First Trust US Equity Dividend Select ETF holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $21.49 and $21.54. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday May 31, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock holds a RSI14 at 73 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 US Equity Dividend Select ETF finds support from accumulated volume at $21.44.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $20.69 (-4.51%) (This stock has low daily movements and this gives low risk. The RSI14 is 73 and this increases the risk substantially. There is a buy signal from pivot bottom found 13 days ago.)
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First Trust US Equity Dividend 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. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
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