
Technology has risen to second within the NDW DALI sector rankings, and among the higher scoring tech-related funds within the First Trust lineup is the First Trust Dow Jones Internet Index Fund (FDN).
There are no changes to any of the First Trust Models covered within the report this week.
Technology has risen to second within the NDW DALI sector rankings, among the higher scoring tech-related funds within the First Trust lineup is the First Trust Dow Jones Internet Index Fund (FDN). The ETF maintains a strong 5.68 fund score, which is higher than the average score for a fund within the Internet (5.05) and Technology (4.59) groups on the Asset Class Group Scores page.
On its default trend chart, FDN rallied above $285 during Tuesday’s (9/9) trading session for a new all-time chart high. The fund has been in a single column of Xs since May on the default chart, but the more sensitive 2-point-per-box chart confirms the recent trend with seven consecutive buy signals while revealing support in the lower $270 to $260 range. FDN is on the threshold of overbought territory with a weekly OBOS reading of 69%, so exposure to better considered on a pullback to the mid-to-upper $270 range.
FDN is up 17% year-to-date (thru 9/9) and is a current holding within both the First Trust Sector (FTRUST) and Focus Five (FTRUST5) Models.