Wisdomtree Gold 3x Daily Short ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Wisdomtree Gold 3x Daily Short
(Updated on Jun 28, 2024)
The Wisdomtree Gold 3x Daily Short ETF price fell by -3.46% on the last day (Friday, 28th Jun 2024) from $13.88 to $13.40. During the last trading day the ETF fluctuated 0% from a day low at $13.40 to a day high of $13.40. The price has fallen in 5 of the last 10 days and is down by -2.06% for this period. Volume has increased on the last day by 600 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 600 shares were bought and sold for approximately $8.04 thousand.
The ETF is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Wisdomtree Gold 3x Daily Short ETF with a 90% probability to be traded between $11.88 and $14.16 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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3GOS.L Signals & Forecast
The Wisdomtree Gold 3x Daily Short 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 $13.47. On a fall, the ETF will find some support from the long-term average at approximately $13.09. 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 Thursday, June 27, 2024, and so far it has fallen -3.46%. 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 Gold 3x 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 Gold 3x Daily Short ETF
Wisdomtree Gold 3x Daily Short finds support from accumulated volume at $13.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0 (0%) between high and low. For the last week, the ETF has had daily average volatility of 1.94%.
Our recommended stop-loss: $12.86 (-4.06%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (3GOS.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wisdomtree Gold 3x Daily Short to open at $13.40, and during the day (based on 14 day Average True Range), to move between $13.02 and $13.78, which gives a possible trading interval of +/-$0.380 (+/-2.84%) up or down from last closing price. If Wisdomtree Gold 3x Daily Short takes out the full calculated possible swing range there will be an estimated 5.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.25 (1.12%) than the resistance at $13.73 (2.46%), 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 Gold 3x Daily Short ETF A Buy?
Wisdomtree Gold 3x 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 Gold 3x Daily Short of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $13.40 ( 0%) | $13.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3GOS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.40 | - |
| R2 | 13.40 | - |
| R1 | 13.40 | - |
| Price | 13.40 | |
| S1 | 13.40 | - |
| S2 | 13.40 | - |
| S3 | 13.40 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.61 | 9.03% |
| R2 | 14.04 | 4.78% |
| R1 | 13.73 | 2.46% |
| Price | 13.40 | |
| S1 | 13.25 | -1.12% |
| S2 | 12.98 | -3.13% |
| S3 | 12.93 | -3.51% |
FAQ
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