Wisdomtree Palladium 1x Daily Short ETF Forecast

A very red day for Wisdomtree Palladium 1x Daily Short ETF price after a -5.32% fall in the Friday trading session
(Updated on Jun 28, 2024)

1PAS.MI Signals & Forecast

There are few to no technical positive signals at the moment. The Wisdomtree Palladium 1x Daily Short ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 16.35€ and 16.53€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -9.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Wisdomtree Palladium 1x Daily Short gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Wisdomtree Palladium 1x Daily Short ETF

Wisdomtree Palladium 1x Daily Short finds support from accumulated volume at 15.63€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved 0.522€ between high and low, or 3.32%. For the last week, the ETF has had daily average volatility of 3.17%.

Our recommended stop-loss: 15.02€ (-4.84%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (1PAS.MI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Wisdomtree Palladium 1x Daily Short to open at 15.91€, and during the day (based on 14 day Average True Range), to move between 15.34€ and 16.22€, which gives a possible trading interval of +/-0.444€ (+/-2.82%) up or down from last closing price. If Wisdomtree Palladium 1x Daily Short takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 15.86€ (0.53%) than the support at 15.63€ (0.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Wisdomtree Palladium 1x Daily Short ETF A Buy?

Wisdomtree Palladium 1x Daily Short holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Wisdomtree Palladium 1x Daily Short of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.