EDOW First Trust Dow 30 Equal Weight ETF Forecast, Technical & Fundamental Analysis
EDOW sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for EDOW moved above the 200-day moving average on December 06, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 02, 2023. You may want to consider a long position or call options on EDOW as a result. In of 85 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for EDOW just turned positive on November 01, 2023. Looking at past instances where EDOW's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
EDOW moved above its 50-day moving average on November 03, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for EDOW crossed bullishly above the 50-day moving average on November 13, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EDOW advanced for three days, in of 350 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 323 cases where EDOW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 22 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where EDOW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
EDOW broke above its upper Bollinger Band on December 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeValue
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| PFISX | 9.77 | 0.03 | +0.31% |
| Principal International Small CompanyR-6 | |||
| ACWZX | 15.44 | N/A | N/A |
| AMG GW&K Small/Mid Cap Growth Z | |||
| RIVBX | 28.52 | -0.04 | -0.14% |
| Riverbridge Growth Institutional | |||
| SMBYX | 37.30 | -0.09 | -0.24% |
| ClearBridge Mid Cap I | |||
| TRIHX | 50.23 | -0.26 | -0.51% |
| TIAA-CREF Large-Cap Gr Idx Advisor | |||
EDOW and
Correlation & Price change
A.I.dvisor indicates that over the last year, EDOW has been closely correlated with DIA. These tickers have moved in lockstep 82% of the time. This A.I.-generated data suggests there is a high statistical probability that if EDOW jumps, then DIA could also see price increases.
| Ticker / NAME | Correlation To EDOW | 1D Price Change % | ||
|---|---|---|---|---|
| EDOW | 100% | -0.16% | ||
| DIA - EDOW | 82% Closely correlated | -0.19% | ||
| IWD - EDOW | 81% Closely correlated | -0.20% | ||
| VTV - EDOW | 81% Closely correlated | -0.21% | ||
| SCHD - EDOW | 80% Closely correlated | -0.19% | ||
| VYM - EDOW | 79% Closely correlated | -0.21% |