Wisdomtree Wti Crude Oil 3x Daily Short ETF Forecast
Green day on Tuesday for Wisdomtree Wti Crude Oil 3x Daily Short
(Updated on Jun 25, 2024)
The Wisdomtree Wti Crude Oil 3x Daily Short ETF price gained 0.597% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.335 to $0.337. During the last trading day the ETF fluctuated 0.597% from a day low at $0.335 to a day high of $0.337. The price has fallen in 6 of the last 10 days and is down by -14.47% for this period. Volume fell on the last day by -11 thousand shares and in total, 2 thousand shares were bought and sold for approximately $505.50 . 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 very 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 $0.336 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 13.80% during the next 3 months and, with a 90% probability hold a price between $0.382 and $0.548 at the end of this 3-month period.
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3OIS.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.597%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wisdomtree Wti Crude Oil 3x Daily Short ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.346 and $0.388. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wti Crude Oil 3x Daily Short ETF
Wisdomtree Wti Crude Oil 3x Daily Short finds support from accumulated volume at $0.332 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 $0.0020 between high and low, or 0.597%. For the last week the ETF has had daily average volatility of 1.48%.
Wisdomtree Wti Crude Oil 3x Daily Short is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3OIS.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wisdomtree Wti Crude Oil 3x Daily Short Etn to open at $0.336, and during the day (based on 14 day Average True Range), to move between $0.321 and $0.353, which gives a possible trading interval of +/-$0.0163 (+/-4.84%) up or down from last closing price. If Wisdomtree Wti Crude Oil 3x Daily Short Etn takes out the full calculated possible swing range there will be an estimated 9.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.332 (1.48%) than the resistance at $0.352 (4.30%), 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 Wti Crude Oil 3x Daily Short Etn ETF A Buy?
The Wisdomtree Wti Crude Oil 3x Daily Short ETF holds several negative signals and despite the positive trend, we believe Wisdomtree Wti Crude Oil 3x Daily Short will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -2.644 Sell Candidate Unchanged
Predicted Opening Price for Wisdomtree Wti Crude Oil 3x Daily Short Etn of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.336 ( 0.198%) | $0.337 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3OIS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.338 | 0.396% |
| R2 | 0.338 | 0.169% |
| R1 | 0.337 | 0.0289% |
| Price | 0.337 | |
| S1 | 0.336 | -0.425% |
| S2 | 0.335 | -0.565% |
| S3 | 0.334 | -0.791% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.406 | 20.47% |
| R2 | 0.392 | 16.17% |
| R1 | 0.352 | 4.30% |
| Price | 0.337 | |
| S1 | 0.332 | -1.48% |
| S2 | 0.323 | -4.30% |
| S3 | 0.322 | -4.60% |
FAQ
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