First Trust Small Cap US Equity Select ETF Forecast and Stock Analysis
Technical RNSC stock analysis for Thursday May 23, 2019.
|Price to book||USD 1.85|
|Next Earnings Date||n/a|
First Trust Small Cap US Equity Select ETF fell by -1.83% in the last day ( Thursday, 23rd May 2019 ) from $20.76 to $20.38 and has now fallen 3 days in a row. During day the stock fluctuated 1.28% from a day low at $20.37 to a day high of $20.63. The price has fallen in 6 of the last 10 days and is down by -4.39% for this period. Volume has increased in the last day by 792 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1 114 shares bought and sold for approximately $22 703.30.
- 30 day high of the RNSC stock price was $21.66 and low was $20.37.
- 90 day high was $22.01 and low was $20.37.
- 52 week high for the First Trust Small Cap US Equity Select ETF - $23.70 and low - $17.64.
First Trust Small Cap US Equity Select ETF is the lower part of a horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at $20.34 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect First Trust Small Cap US Equity Select ETF with 90% probability to be traded between $20.19 and $21.47 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.
There are few to none technical positive signals at the moment. First Trust Small Cap US Equity Select ETF holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $20.84 and $21.29. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Thursday May 16, 2019, which indicates further falls until a new bottom pivot has been found. First Trust Small Cap US Equity Select ETF gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 26 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.26 (1.28%) between high and low. For the last week, the stock has had a daily average volatility of 0.66%.
First Trust Small Cap US Equity Select ETF is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
0.66 %Average volatility
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First Trust Small Cap US Equity Select ETF holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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