First Trust Managed Municipal ETF Forecast
First Trust Managed Municipal ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The First Trust Managed Municipal ETF price fell by -0.255% on the last day (Tuesday, 23rd Apr 2024) from $51.00 to $50.87. During the last trading day the ETF fluctuated 0.315% from a day low at $50.78 to a day high of $50.94. The price has been going up and down for this period, and there has been a -0.46% loss for the last 2 weeks. Volume has increased on the last day by 71 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 226 thousand shares were bought and sold for approximately $11.51 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust Managed Municipal ETF with a 90% probability to be traded between $50.29 and $51.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FMB Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 0.187%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Managed Municipal 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 $50.94 and $51.26. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A sell signal from a double top formation was found on Friday, March 08, 2024 with a target of $51.09. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for First Trust Managed Municipal ETF
First Trust Managed Municipal finds support from accumulated volume at $50.77 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 $0.160 between high and low, or 0.315%. For the last week the ETF has had daily average volatility of 0.222%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FMB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect First Trust Managed Municipal ETF to open at $50.86, and during the day (based on 14 day Average True Range), to move between $50.72 and $51.01, which gives a possible trading interval of +/-$0.144 (+/-0.28%) up or down from last closing price. If First Trust Managed Municipal ETF takes out the full calculated possible swing range there will be an estimated 0.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.77 (0.19%) than the resistance at $51.10 (0.46%), 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 Managed Municipal ETF ETF A Buy?
First Trust Managed Municipal holds several negative signals and is within a narrow and 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 ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.863 Sell Candidate Downgraded
Predicted Opening Price for First Trust Managed Municipal ETF of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $50.86 ( 0.0066%) | $50.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.02 | 0.308 % | |
| R2 | 50.96 | 0.188 % | ||
| R1 | 50.92 | 0.114 % | ||
| Current price: | 50.87 | |||
| Support | S1 | 50.80 | -0.127 % | |
| S2 | 50.76 | -0.201 % | ||
| S3 | 50.70 | -0.321 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.52 | 1.29 % | |
| R2 | 51.36 | 0.97 % | ||
| R1 | 51.10 | 0.462 % | ||
| Current price | 50.87 | |||
| Support | S1 | 50.77 | -0.187% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FMB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.135 | 0.263% |
| 2 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.135 | 0.262% |
| 3 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.135 | 0.262% |
| 4 | Dec 21, 2023 | Dec 22, 2023 | Dec 29, 2023 | $0.133 | 0.256% |
| 5 | Nov 20, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.128 | 0.254% |
FAQ
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