Wisdomtree Natural Gas 3x Daily Short ETF Forecast
Big movements in Wisdomtree Natural Gas 3x Daily Short ETF price on Friday moving 14.84% between high and low
(Updated on Jun 28, 2024)
The Wisdomtree Natural Gas 3x Daily Short ETF price gained 11.57% on the last trading day (Friday, 28th Jun 2024), rising from 849.23€ to 947.45€. It has now gained 4 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 14.84% from a day low at 825.00€ to a day high of 947.45€. The price has risen in 7 of the last 10 days and is up by 36.89% over the past 2 weeks. Volume fell on the last day by -169 shares and in total, 5 thousand shares were bought and sold for approximately 4.75€ million. 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.
Given the current short-term trend, the ETF is expected to fall -58.13% during the next 3 months and, with a 90% probability hold a price between 144.12€ and 396.67€ at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3NGS.MI Signals & Forecast
The Wisdomtree Natural Gas 3x Daily Short 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 804.48€ and 869.64€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 58.21%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely.
Support, Risk & Stop-loss for Wisdomtree Natural Gas 3x Daily Short ETF
Wisdomtree Natural Gas 3x Daily Short finds support from accumulated volume at 923.36€ 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved 122.45€ between high and low, or 14.84%. For the last week, the ETF has had daily average volatility of 12.17%.
Our recommended stop-loss: 900.08€ (-5.00%) (This ETF has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (3NGS.MI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wisdomtree Natural Gas 3x Daily Short to open at 906.63€, and during the day (based on 14 day Average True Range), to move between 842.58€ and 1,052.32€, which gives a possible trading interval of +/-104.87€ (+/-11.07%) up or down from last closing price. If Wisdomtree Natural Gas 3x Daily Short takes out the full calculated possible swing range there will be an estimated 22.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 923.36€ (2.54%) than the resistance at 1,001.51€ (5.71%), 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 Natural Gas 3x Daily Short ETF A Buy?
Wisdomtree Natural Gas 3x Daily Short 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 Natural Gas 3x Daily Short of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 906.63€ ( 4.31%) | 947.45€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3NGS.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,029.08 | 8.62% |
| R2 | 982.31 | 3.68% |
| R1 | 953.41 | 0.629% |
| Price | 947.45 | |
| S1 | 859.86 | -9.25% |
| S2 | 830.96 | -12.30% |
| S3 | 784.18 | -17.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,087.81 | 14.81% |
| R2 | 1,021.08 | 7.77% |
| R1 | 1,001.51 | 5.71% |
| Price | 947.45 | |
| S1 | 923.36 | -2.54% |
| S2 | 869.67 | -8.21% |
| S3 | 808.19 | -14.70% |
FAQ
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