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First Trust DJ Internet Index Fund

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FDN trade ideas

FDN (DJ Internet Index) Double Bearish Patterns evolving.....In the Covid-19 fell March/April selloff this index fell approx 32%. It has regained just about 88% of this range and created a Bearish Bat Pattern. One can overlay this with a Deep Crab Pattern which started on March 10th and signalled today. The Deep Crab Pattern typically can have an extention which exceeds 1.618 and can reach as far as 1.94x so this would target $156.57 area max. So two bearish formations could lead to rapid sell off if some of the main internet sector leaders fail or the general market hits an air pocket. This is a 180 minute chart so price action could evolve quite rapidly S.
AMEX:FDNShort
by Steve666
FDN weakness in short term, long term bullish in the short term there is practically no demand in the structure the ese of downward movement has increased after the second upthrust and the supports which generated the spring has lot the buying it previously shown , further downside can be expected but comparing the 2019 decilne to the 2018, there has been significant reduction in quality of supply, both in spread of the price and the and volumes generated.. a possibility of a spring from lower levels must be expected and watched for good trading opportunities disclaimer... not an investing/trading recommendation
AMEX:FDN
by capsule91
Strong Buy Signal on the U.S. Internet Stocks.The FDN (First Trust Dow Jones Internet Index Fund) which essentially covers the U.S. Internet Stocks, is now comfortably trading above the MA50 on the 1D chart on strong bullish candle action (RSI = 69.026, MACD = 2.230, Highs/Lows = 3.3271). Through this price action a strong buy signal has emerged and has to do with the similarities of the mid 2018 - 2019 price action with the late 2015 - mid 2016 sequence. Not only the MA periods (Death Cross followed by a Golden Cross) and candle action (Highs, Lows, consolidation phases) are virtually identical but also the price ranges (-27% decline from highs). If a +21.50% rise follows, then the peak of the current bullish sequence would be near 161.00. We are long on this asset. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
AMEX:FDNLong
by InvestingScope
FDN Internet Fang Stocks Extraordinary RolloverFDN Internet ETF with it's 35 % FANG stock representation, has shown an extraordinary chart rollover in late 2018. As the chart shows, the massive selling of these type of stocks by large institutions the prior market leaders, that they ALL had to own, is just beginning the process of unwinding the excesses, that will ultimately lead these FANG stocks back to the base, wherever you deem that to be. An overshoot to the downside, would be the expected result here in FDN as the laws of simple physics, as I often say, will cause an exact counter direction move ..now to the downside. If these type stocks have been holding the market up throughout 2016-2018 what does that say about the markets prospects, if these stocks are now leading to the downside..? FDN 123.81 Last THE_UNWIND 11/18/18 NEW YORK
AMEX:FDNShort
by The_Unwind
3
FDN Did quite a bit Repair the InternetsFriday put in value at the top of the range with a text book 3 day bottoming reversal formation. This sell off came right down to the expected 100% down side move from the consolidation break. There is some reason to think the internet stocks will stabilize at least into NFLX earnings this week. Internet is still holding the intermediate trends well. The big issue is the short term trend turned bearish. There are signs out there Amzn and Googl found a bottom. FB bounced off my expected down side tgt. AAPL is still in a very strong intermediate bull cycle but it is near the top of it's range. The way my other charts are setting up looking for continued weakness into November, careful pressing your longs short term. I am solidly bearish NFLX for this weeks earnings. So, I am thinking the bottoming pattern we see in FDN past 3 days is risky. This whole sector needs a break as money rolls out of growth and into value.
AMEX:FDN
by GUMBY9662C