FTXG Stock Tickeron detected bearish ETF Pattern: Triangle Symmetrical Bottom FTXG on October 01, 2024, netting in a 2.95% gain over 1 month

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FTXG - First Trust Nasdaq Food & Beverage ETF

Ticker: FTXG

Company: First Trust Nasdaq Food & Beverage ETF

Gain from shortening: +2.95%

Confirmed: 10/01/24

Succeeded: 10/28/24

Total length: 34 days

Momentum Indicator for FTXG turns negative, indicating new downward trend

FTXG saw its Momentum Indicator move below the 0 level on October 24, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 86 similar instances where the indicator turned negative. In of the 86 cases, the stock moved further down in the following days. The odds of a decline are at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for FTXG turned negative on October 21, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 51 similar instances when the indicator turned negative. In of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at .

FTXG moved below its 50-day moving average on October 21, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for FTXG crossed bearishly below the 50-day moving average on October 11, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FTXG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for FTXG entered a downward trend on November 15, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator entered the oversold zone -- be on the watch for FTXG's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 56 cases where FTXG's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that 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 FTXG advanced for three days, in of 297 cases, the price rose further within the following month. The odds of a continued upward trend are .

FTXG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.