Technical Watch for First Trust Energy Income and Growth Fund (:FEN): 20 Day Upper Keltner Level Hits 20.469286

Because there are so many stocks to choose from, it may not be feasible for investors to be able to research all of them. Investors may have many different preferred methods for screening stocks, and it can sometimes be easier to focus on a small number of stocks at first. There is no shortage of stock picking ideas that come from various outlets across the globe. Certain stocks tend to become household names simply because of the amount of coverage that they get from the media. There are many unglamorous stocks that might be a good fit for the portfolio. Taking the time to branch out into previously non-researched sectors may give the investor some new ideas for portfolio additions in the future.

Many traders will look to optimize stock trades by using various technical indicators. The Ichimoku Cloud indicator is highly flexible and is commonly used in conjunction with the RSI to help confirm momentum and overall trends. Let’s focus on a few different Ichimoku readings on shares of First Trust Energy Income and Growth Fund (:FEN):

Ichimoku Cloud Base Line: 19.475
Ichimoku Cloud Conversion Line: 20.585
Ichimoku Lead 1: 19.37655
Ichimoku Lead 2: 19.70155

Traders following shares of First Trust Energy Income and Growth Fund (:FEN) may have noted that the stock most recently closed at 21. Going back a full-year, the stock has seen a change of -22.566372 over that stretch. Taking the focus in to more recent action, shares have seen a move of 7.8582435 over the last week. Over the prior month, the stock has moved 6.6531234. Over the past three months, the stock has moved -5.8295965.

There are multiple moving average indicators that traders may rely on when conducting stock research. One of the most popular is the Simple Moving Average. The SMA is unweighted, meaning that each period in the set of data is weighted equally. Looking at some SMA levels, we can see that the 10 day is 20.69227, the 20 day is 19.827866, and the 30 day is 19.409243. Tracking some other time periods, we note that the 50 day SMA is 19.514912 , the 100 day is 19.564917 , and the 200 day SMA is currently 20.89193.

Tracking some one month stock pivot points, we note that the Classic Pivot is 19.563334, the Classic resistance 1 is 20.826666, and the Classic support 1 is presently 18.766666. The Fibonacci one month pivot is 19.563334 while the Fibonacci support 1 pivot is 18.776413, and the Fibonacci support 2 is 18.290253. Looking at one month Woodie pivot, we note the level at 19.815. The Woodie support 1 pivot is 19.27, and the Woodie resistance 1 pivot is 21.33.

Traders focusing on technical analysis may be interested in following the Awesome Oscillator level. Currently, the reading is 1.6108586. Typically, when the Awesome Oscillator moves above the zero line, this would indicate that the short term momentum is rising quicker than the long term momentum. A cross below the zero line would indicate that short term momentum is dropping faster than the long term momentum.

Tracking the Hull Moving Average, we note that the current level is 21.165358. The Hull Moving Average was introduced by Alan Hull. Swing traders often use this indicator in combination with other signals in order to help identify possible entry and exit spots.

Once the individual investor has figured out a plan to analyze stocks, they can begin to start building a portfolio. Because not everyone has the same goals, time horizons, and risk appetites, it is hard to provide one answer to the question of how to construct the perfect winning stock portfolio. Although every investor’s goal is typically to beat the market and secure consistent profits, this is no easy accomplishment. Professionals have spent many years studying the ins and outs of the stock market. There are certain strategies that may work better during different market cycles, but it is hard to say with any certainty that they will continue to work in the future. Markets and economic landscapes are constantly changing, and being able to keep up with the changes might involve tweaking strategies that have previously been successful but no longer are.

Expanding the technical focus for First Trust Energy Income and Growth Fund (:FEN), we see that the Keltner Channels 20 day upper band is 20.469286, and the 20 day lower band is19.776669. The Keltner Channels indicator is similar to Bollinger Bands and Moving Average Envelopes.