First Trust Mid Cap US Equity Select ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for First Trust Mid Cap US Equity Select as ETF downgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The First Trust Mid Cap US Equity Select ETF price gained 0.338% on the last trading day (Thursday, 28th Mar 2024), rising from $33.01 to $33.12. During the last trading day the ETF fluctuated 0.608% from a day low at $32.92 to a day high of $33.12. The price has risen in 7 of the last 10 days and is up by 4.2% over the past 2 weeks. Volume fell on the last day by -22 shares and in total, 202 shares were bought and sold for approximately $6.69 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $32.56, a level that may pose a second chance to hit a runner. According to fan-theory $33.69 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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RNMC Signals & Forecast
The First Trust Mid Cap US Equity Select ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $32.61 and $31.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 13, 2024, and so far it has risen 9.38%. Further rise is indicated 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for First Trust Mid Cap US Equity Select ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $31.14 and $31.09. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, First Trust Mid Cap US Equity Select finds support just below today's level at $31.14. If this is broken, then the next support from accumulated volume will be at $31.09 and $30.28.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.200 between high and low, or 0.608%. For the last week the ETF has had daily average volatility of 0.297%
Our recommended stop-loss: $32.07 (-3.18%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (RNMC) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust Mid Cap US Equity Select ETF to open at $33.05, and during the day (based on 14 day Average True Range), to move between $32.86 and $33.38, which gives a possible trading interval of +/-$0.259 (+/-0.78%) up or down from last closing price. If First Trust Mid Cap US Equity Select ETF takes out the full calculated possible swing range there will be an estimated 1.56% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.14, some $1.98 (5.98%) from the current price of $33.12, our system finds the risk reward attractive.
Is First Trust Mid Cap US Equity Select ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for First Trust Mid Cap US Equity Select ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.856 Buy Candidate Downgraded
Predicted Opening Price for First Trust Mid Cap US Equity Select ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$33.05 ( 0.201%) | $33.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNMC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.25 | 0.403 % | |
R2 | 33.18 | 0.172 % | ||
R1 | 33.13 | 0.0294 % | ||
Current price: | 33.12 | |||
Support | S1 | 32.98 | -0.432 % | |
S2 | 32.93 | -0.574 % | ||
S3 | 32.85 | -0.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 33.12 | |||
Support | S1 | 31.14 | -5.98% | |
S2 | 31.09 | -6.12% | ||
S3 | 30.28 | -8.57% |
RNMC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.0600 | 0.181% |
2 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.185 | 0.595% |
3 | Sep 21, 2023 | Sep 22, 2023 | Sep 29, 2023 | $0.0590 | 0.214% |
4 | Jun 26, 2023 | Jun 27, 2023 | Jun 30, 2023 | $0.130 | 0.452% |
5 | Mar 23, 2023 | Mar 24, 2023 | Mar 31, 2023 | $0.0840 | 0.304% |
FAQ
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