Wisdomtree Silver 3x Daily Leveraged ETF Forecast
Wisdomtree Silver 3x Daily Leveraged ETF price ended at 54.35€ on Wednesday, after losing 0.147%.
(Updated on Jun 26, 2024)
The Wisdomtree Silver 3x Daily Leveraged ETF price fell by -0.147% on the last day (Wednesday, 26th Jun 2024) from 54.43€ to 54.35€. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 4.52% from a day low at 52.70€ to a day high of 55.08€. The price has fallen in 6 of the last 10 days and is down by -11.81% for this period. 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 -4 thousand shares and in total, 23 thousand shares were bought and sold for approximately 1.27€ million.
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 52.72€ 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 20.35% during the next 3 months and, with a 90% probability hold a price between 63.45€ and 103.22€ at the end of this 3-month period.
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3SIL.MI Signals & Forecast
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. The Wisdomtree Silver 3x Daily Leveraged 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 58.21€ and 63.53€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -31.80%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Wisdomtree Silver 3x Daily Leveraged ETF
Wisdomtree Silver 3x Daily Leveraged finds support from accumulated volume at 51.79€ 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 2.38€ between high and low, or 4.52%. For the last week the ETF has had daily average volatility of 6.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3SIL.MI) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Wisdomtree Silver 3x Daily Leveraged to open at 54.04€, and during the day (based on 14 day Average True Range), to move between 49.64€ and 59.06€, which gives a possible trading interval of +/-4.71€ (+/-8.67%) up or down from last closing price. If Wisdomtree Silver 3x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 17.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 51.79€ (4.71%) than the resistance at 59.90€ (10.21%), 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 Silver 3x Daily Leveraged ETF A Buy?
The Wisdomtree Silver 3x Daily Leveraged ETF holds several negative signals and despite the positive trend, we believe Wisdomtree Silver 3x Daily Leveraged will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.294 Sell Candidate Unchanged
Predicted Opening Price for Wisdomtree Silver 3x Daily Leveraged of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| 54.04€ ( 0.564%) | 54.35€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3SIL.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.42 | 3.81% |
| R2 | 55.51 | 2.14% |
| R1 | 54.95 | 1.11% |
| Price | 54.35 | |
| S1 | 53.13 | -2.24% |
| S2 | 52.57 | -3.27% |
| S3 | 51.66 | -4.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.04 | 19.67% |
| R2 | 62.40 | 14.81% |
| R1 | 59.90 | 10.21% |
| Price | 54.35 | |
| S1 | 51.79 | -4.71% |
| S2 | 50.59 | -6.92% |
| S3 | 48.86 | -10.10% |
FAQ
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