Wisdomtree Ftse 250 2x Daily Leveraged ETF Forecast

Wisdomtree Ftse 250 2x Daily Leveraged ETF downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

2MCL.L Signals & Forecast

The Wisdomtree Ftse 250 2x Daily Leveraged ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £21,059.86 and £21,330.81. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Wisdomtree Ftse 250 2x Daily Leveraged ETF

Wisdomtree Ftse 250 2x Daily Leveraged finds support from accumulated volume at £21,102.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved £0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.386%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (2MCL.L) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Wisdomtree Ftse 250 2x Daily Leveraged to open at £21,366.00, and during the day (based on 14 day Average True Range), to move between £21,044.49 and £21,687.51, which gives a possible trading interval of +/-£321.51 (+/-1.50%) up or down from last closing price. If Wisdomtree Ftse 250 2x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 3.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £21,385.50 (0.09%) than the support at £21,102.50 (1.23%), 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 Ftse 250 2x Daily Leveraged ETF A Buy?

Wisdomtree Ftse 250 2x Daily Leveraged holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.871 Sell Candidate Downgraded

Predicted Opening Price for Wisdomtree Ftse 250 2x Daily Leveraged of Thursday, June 27, 2024

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