Fidelity Covington Trust - Enhanced Small Cap ETF Price & Performance (FESM)

Fidelity Covington Trust Enhanced Small Cap (FESM) is approaching a critical resistance point at $31.76. Analysts suggest shorting the stock near this level with a target of $29.31, while a break above $31.76 could signal a buy with a target of $33.83. Stop-loss strategies are advised.1

Technical analysis for FESM indicates mixed signals. A break above $31.76 suggests a buying opportunity, while resistance tests at the same level could trigger short positions. Traders are urged to monitor updates closely, as the stock's movements may reflect broader market weaknesses.1

Market analysts advise caution on FESM, as its current lack of support levels makes buying risky. The stock is labeled weak in near- and mid-term ratings. A potential move above $31.76 may shift sentiment, but current trends suggest waiting for clearer signs of recovery.1