Wisdomtree Euro Stoxx Banks 3x Daily ETF Forecast
Green day on Thursday for Wisdomtree Euro Stoxx Banks 3x Daily
(Updated on Jun 27, 2024)
The Wisdomtree Euro Stoxx Banks 3x Daily ETF price gained 0.82% on the last trading day (Thursday, 27th Jun 2024), rising from 20.66€ to 20.83€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.80% from a day low at 20.54€ to a day high of 20.91€. The price has been going up and down for this period, and there has been a -0.97% loss for the last 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 875 shares were bought and sold for approximately 18.22€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 20.11€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the ETF is expected to rise 23.24% during the next 3 months and, with a 90% probability hold a price between 24.78€ and 29.97€ at the end of this 3-month period.
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3BAS.MI Signals & Forecast
The Wisdomtree Euro Stoxx Banks 3x Daily ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 20.56€ and 19.16€. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 14, 2024, and so far it has fallen -8.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Euro Stoxx Banks 3x Daily ETF
Wisdomtree Euro Stoxx Banks 3x Daily finds support from accumulated volume at 19.97€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved 0.370€ between high and low, or 1.80%. For the last week the ETF has had daily average volatility of 3.54%.
Our recommended stop-loss: 19.85€ (-4.68%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (3BAS.MI) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Wisdomtree Euro Stoxx Banks 3x Daily Short to open at 20.76€, and during the day (based on 14 day Average True Range), to move between 19.94€ and 21.71€, which gives a possible trading interval of +/-0.88€ (+/-4.24%) up or down from last closing price. If Wisdomtree Euro Stoxx Banks 3x Daily Short takes out the full calculated possible swing range there will be an estimated 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 21.03€ (0.98%) than the support at 19.97€ (4.09%), 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 Euro Stoxx Banks 3x Daily Short ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wisdomtree Euro Stoxx Banks 3x Daily ETF to perform well in the short-term.
Current score: 1.508 Buy Candidate Unchanged
Predicted Opening Price for Wisdomtree Euro Stoxx Banks 3x Daily Short of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 20.76€ ( 0.336%) | 20.83€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3BAS.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.13 | 1.44% |
| R2 | 20.98 | 0.762% |
| R1 | 20.90 | 0.343% |
| Price | 20.83 | |
| S1 | 20.61 | -1.01% |
| S2 | 20.53 | -1.43% |
| S3 | 20.39 | -2.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.67 | 8.84% |
| R2 | 21.53 | 3.39% |
| R1 | 21.03 | 0.98% |
| Price | 20.83 | |
| S1 | 19.97 | -4.09% |
| S2 | 19.73 | -5.26% |
| S3 | 16.98 | -18.45% |
FAQ
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