(FNX) First Trust Mid Cap Core - Ratings and Ratios

The First Trust Mid Cap Core AlphaDEX® Fund (FNX) is an actively managed ETF that seeks to outperform traditional mid-cap indices by investing in a portfolio of stocks selected using the AlphaDEX methodology. This approach aims to identify securities with potential for positive alpha, or risk-adjusted returns, from the NASDAQ US600 Mid Cap Index.

The AlphaDEX selection process is a rules-based system that evaluates stocks based on various fundamental and quantitative factors, aiming to create a portfolio with a higher potential for returns relative to its risk. By focusing on mid-cap stocks, FNX targets a segment of the market that is often characterized by a balance between growth potential and relative stability.

As of the latest data, FNX has demonstrated a certain level of price momentum, with its last price at $112.84, above its 20-day Simple Moving Average (SMA) of $111.88 and significantly above its 50-day SMA of $107.58. However, it is below its 200-day SMA of $114.18, indicating a potential resistance level. The Average True Range (ATR) of 1.47, or 1.30%, suggests moderate volatility.

Given the current technical indicators and fundamental data, including an Assets Under Management (AUM) of $1.12 billion, a forecast for FNX could involve a potential breakout if it surpasses the 200-day SMA and maintains momentum. Conversely, failure to break through this resistance could lead to a pullback towards the 50-day SMA. Investors should monitor the ATR for signs of increasing volatility, which could signal a significant move in either direction.

To capitalize on potential opportunities, investors could consider FNX as part of a diversified portfolio, especially if they are bullish on the mid-cap segment and believe in the effectiveness of the AlphaDEX selection methodology. However, its crucial to continuously evaluate the funds performance relative to its index and peers, as well as broader market conditions, to make informed investment decisions.