First Trust Emerging Markets Equity Select ETF Stock Analysis
Technical stock analysis for Tue 15'th Jan 2019
First Trust Emerging Markets Equity Select ETF gained 0.54% in the last trading day, rising from $49.95 to $50.22 , and has now gained 3 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. The price has risen in 6 of the last 10 days and is up by 4.5% 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, 2 504 more shares were traded than the day before. In total, 2 834 shares bought and sold for approximately $142 323.00.
Close price at the end of the last trading day (Tuesday, 15th Jan 2019) of the RNEM stock was $50.22. This is 0.54% more than the trading day before Monday, 14th Jan 2019.
During day the stock fluctuated 1.00% from a day low at $49.76 to a day high of $50.26.
30 day high of the RNEM stock price was $50.26 and low was $46.68.
90 day high was $52.17 and low was $45.46.
52 week high for the First Trust Emerging Markets Equity Select ETF - $59.26 and low - $45.46.
Given the current horizontal trend you can expect First Trust Emerging Markets Equity Select ETF with 90% probability to be traded between $46.63 and $53.46 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Only positive signals in the chart today. 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 $49.59 and $48.34. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday December 27, 2018, which indicates further gains until a new top pivot has been found. First Trust Emerging Markets 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.
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 Emerging Markets Equity Select ETF finds support from accumulated volume at $48.64.
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 $0.50 (1.00%) between high and low. For the last week, the stock has had a daily average volatility of 0.64%.
Our recommended stoploss: $47.94 (-4.55%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from pivot bottom found 12 days ago.)
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Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for this stock to perform well in the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.