Wisdomtree Coffee 3x Daily Leveraged ETF Forecast
High volatility in Wisdomtree Coffee 3x Daily Leveraged ETF price on Wednesday which ended trading at $4.89
(Updated on Jun 26, 2024)
The Wisdomtree Coffee 3x Daily Leveraged ETF price fell by -5.90% on the last day (Wednesday, 26th Jun 2024) from $5.19 to $4.89. During the last trading day the ETF fluctuated 10.72% from a day low at $4.89 to a day high of $5.41. The price has fallen in 6 of the last 10 days but is still up by 0.47% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -57 thousand shares and in total, 10 thousand shares were bought and sold for approximately $47.36 thousand.
The ETF lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.97% during the next 3 months and, with a 90% probability hold a price between $4.09 and $7.59 at the end of this 3-month period.
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3CFL.L Signals & Forecast
The Wisdomtree Coffee 3x Daily Leveraged ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $5.11. On a fall, the ETF will find some support from the long-term average at approximately $4.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, April 17, 2024, and so far it has fallen -25.06%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Coffee 3x Daily Leveraged ETF
Wisdomtree Coffee 3x Daily Leveraged finds support from accumulated volume at $4.80 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 $0.524 between high and low, or 10.72%. For the last week the ETF has had daily average volatility of 8.80%.
Our recommended stop-loss: $4.59 (-6.02%) (This ETF has high daily movements and this gives high risk. There is a sell signal from a pivot top found 81 days ago.)
Trading Expectations (3CFL.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Wisdomtree Coffee 3x Daily Leveraged to open at $5.06, and during the day (based on 14 day Average True Range), to move between $4.41 and $5.36, which gives a possible trading interval of +/-$0.477 (+/-9.76%) up or down from last closing price. If Wisdomtree Coffee 3x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 19.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.80 (1.76%) than the resistance at $4.98 (1.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wisdomtree Coffee 3x Daily Leveraged ETF A Buy?
Wisdomtree Coffee 3x Daily Leveraged holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.575 Hold/Accumulate Downgraded
Predicted Opening Price for Wisdomtree Coffee 3x Daily Leveraged of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $5.06 ( 3.57%) | $4.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3CFL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.58 | 14.30% |
| R2 | 5.38 | 10.20% |
| R1 | 5.26 | 7.67% |
| Price | 4.89 | |
| S1 | 4.86 | -0.522% |
| S2 | 4.74 | -3.05% |
| S3 | 4.54 | -7.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.59 | 14.41% |
| R2 | 5.51 | 12.77% |
| R1 | 4.98 | 1.82% |
| Price | 4.89 | |
| S1 | 4.80 | -1.76% |
| S2 | 4.68 | -4.22% |
| S3 | 3.87 | -20.79% |
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