RNMC Forecast and Technical Stock AnalysisBuy candidate since 2019-07-19
First Trust Mid Cap US Equity Select ETF gained 0.54% in the last trading day ( Friday, 19th Jul 2019 ), rising from $22.12 to $22.24 During day the stock fluctuated 0.22% from a day low at $22.21 to a day high of $22.26. The price has been going up and down for this period, and there has been a -0.23% loss for the last 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 950 more shares were traded than the day before. In total, 2 909 shares bought and sold for approximately $64 696.20.
- 30 day high of the RNMC stock price was $22.37 and low was $21.57.
- 90 day high was $22.48 and low was $20.53.
- 52 week high for the First Trust Mid Cap US Equity Select ETF - $23.12 and low - $17.65.
First Trust Mid Cap US Equity Select ETF is at the upper part of a horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $22.54 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect First Trust Mid Cap US Equity Select ETF with 90% probability to be traded between $20.69 and $22.64 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.
First Trust Mid Cap US 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 $22.20 and $21.82. A break down below any of these levels will issue sell signals. First Trust Mid Cap US Equity Select ETF has rising volume and follows the last lift in the price. This considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Wednesday July 03, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 56 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
First Trust Mid Cap US Equity Select ETF finds support from accumulated volume at $21.58.
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 $0.05 (0.22%) between high and low. For the last week, the stock has had a daily average volatility of 0.32%.
Our recommended stoploss: $21.33 (-4.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 11 days ago.)
0.32 %Average volatility
Very Low Low Medium High Very High
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.
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