First Trust Emerging Markets Equity Select ETF Forecast and Stock Analysis
Technical RNEM stock analysis for Wednesday June 19, 2019.
First Trust Emerging Markets Equity Select ETF gained 0.51% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $51.36 to $51.62 , and has now gained 4 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 0.99% from a day low at $51.42 to a day high of $51.93. The price has risen in 6 of the last 10 days and is up by 2.26% over the past 2 weeks. Volume fell in the last day by -5 942 shares, and in total, 1 814 shares bought and sold for approximately $93 638.70. 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 RNEM stock price was $51.93 and low was $49.16.
- 90 day high was $52.40 and low was $48.81.
- 52 week high for the First Trust Emerging Markets Equity Select ETF - $52.62 and low - $45.46.
First Trust Emerging Markets Equity Select ETF has broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $51.08, a level that may pose a second chance to hit a runner. According to fan-theory $54.00 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
First Trust Emerging Markets 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 $50.91 and $50.31. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday June 14, 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 72 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 Emerging Markets Equity Select ETF finds support from accumulated volume at $51.36.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
The stock is extremely overbought on RSI14 (72). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $49.44 (-4.22%) (This stock has low daily movements and this gives low risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from pivot bottom found 3 days ago.)
0.59 %Average volatility
Very Low Low Medium High Very High
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
|Golden Star Signal|
Get competitive edge
The signal uses moving averages and adds special requirements that convert the very good Golden Cross into a Golden Star.
This signal is rare and, in most cases, gives a very good return. From 8.000 stocks usually only a few will trigger a Golden Star Signal per day!
Get access to Golden Star list now
From Our Blog
- Trading With Moving Average
- Pivot Points
- Accumulated Volume - Support and Resistance
- Volume - The Indicator You Really Need to Know
- We Give Back!
- Better Buy: Amazon vs. Facebook
- Better Buy: Apple vs. Microsoft
- Relative Strength Index (RSI)
- How to Lose Money When Trading: Part 2
- How to Lose Money When Trading: A Trader is Born
- Our 2017 Christmas Donation
- The Golden Star
- Announcing Partnership With CityFALCON
- Why correct moving average matters
- NASDAQ down -4.17%. Our portfolio is up +8.56%
- New Feature Added: Golden Star Signal
- Pick a Winner With StockInvest.us