First Trust ISE Cloud Computing Index ETF Forecast
First Trust ISE Cloud Computing Index ETF price ended at $90.76 on Wednesday, after losing 0.86%.
(Updated on Apr 17, 2024)
The First Trust ISE Cloud Computing Index ETF price fell by -0.86% on the last day (Wednesday, 17th Apr 2024) from $91.55 to $90.76. During the last trading day the ETF fluctuated 1.80% from a day low at $90.68 to a day high of $92.32. The price has been going up and down for this period, and there has been a -4.66% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -81 thousand shares and in total, 86 thousand shares were bought and sold for approximately $7.83 million.
The ETF has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $91.88. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SKYY Signals & Forecast
There are few to no technical positive signals at the moment. The First Trust ISE Cloud Computing Index ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $93.56 and $94.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 04, 2024, and so far it has fallen -6.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, March 04, 2024 and based on theory for this formation the price should fall by -9.20% to $82.41 within 15 trading days since signal was issued (Thursday, April 18, 2024).
Support, Risk & Stop-loss for First Trust ISE Cloud Computing Index ETF
First Trust ISE Cloud Computing Index finds support from accumulated volume at $90.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.64 between high and low, or 1.80%. For the last week the ETF has had daily average volatility of 1.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKYY) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect First Trust ISE Cloud Computing Index Fund to open at $91.25, and during the day (based on 14 day Average True Range), to move between $89.03 and $92.49, which gives a possible trading interval of +/-$1.73 (+/-1.90%) up or down from last closing price. If First Trust ISE Cloud Computing Index Fund takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $90.64 (0.13%) than the resistance at $93.12 (2.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Trust ISE Cloud Computing Index Fund ETF A Buy?
The First Trust ISE Cloud Computing Index ETF holds several negative signals and despite the positive trend, we believe First Trust ISE Cloud Computing Index will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.070 Sell Candidate Unchanged
Predicted Opening Price for First Trust ISE Cloud Computing Index Fund of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $91.25 ( 0.545%) | $90.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.89 | 2.35 % | |
| R2 | 92.27 | 1.66 % | ||
| R1 | 91.88 | 1.23 % | ||
| Current price: | 90.76 | |||
| Support | S1 | 90.63 | -0.144 % | |
| S2 | 90.24 | -0.569 % | ||
| S3 | 89.62 | -1.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.87 | 4.53 % | |
| R2 | 94.79 | 4.44 % | ||
| R1 | 93.12 | 2.60 % | ||
| Current price | 90.76 | |||
| Support | S1 | 90.64 | -0.132% | |
| S2 | 89.45 | -1.44% | ||
| S3 | 89.31 | -1.60% |
SKYY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2022 | Sep 23, 2022 | Sep 30, 2022 | $0.0110 | 0.0182% |
| 2 | Jun 23, 2022 | Jun 24, 2022 | Jun 30, 2022 | $0.0360 | 0.0546% |
| 3 | Mar 24, 2022 | Mar 25, 2022 | Mar 31, 2022 | $0.0830 | 0.0917% |
| 4 | Dec 22, 2021 | Dec 23, 2021 | Dec 31, 2021 | $0.677 | 0.649% |
| 5 | Sep 22, 2021 | Sep 23, 2021 | Sep 30, 2021 | $0.0410 | 0.0389% |
FAQ
Click here for our free guide on how to buy First Trust ISE Cloud Computing Index Fund ETF.
