Wisdomtree Silver 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
Weaker technical forecast for Wisdomtree Silver 3x Daily Short as ETF downgraded to Hold/Accumulate.
(Updated on Jun 27, 2024)
No changes to the price of Wisdomtree Silver 3x Daily Short ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at $0.96 to a day high of $0.96. The price has risen in 5 of the last 10 days and is up by 0.42% over the past 2 weeks.
The ETF lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -36.42% during the next 3 months and, with a 90% probability hold a price between $0.324 and $0.691 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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3SIS.L Signals & Forecast
The Wisdomtree Silver 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 $0.91 and $0.93. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Silver 3x Daily Short ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $0.90 and $0.80. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Wisdomtree Silver 3x Daily Short finds support just below today's level at $0.90. If this is broken, then the next support from accumulated volume will be at $0.80 and $0.786.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 2.95%
Our recommended stop-loss: $0.93 (-3.76%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (3SIS.L) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Wisdomtree Silver 3x Daily Short to open at $0.96, and during the day (based on 14 day Average True Range), to move between $0.90 and $1.02, which gives a possible trading interval of +/-$0.0599 (+/-6.22%) up or down from last closing price. If Wisdomtree Silver 3x Daily Short takes out the full calculated possible swing range there will be an estimated 12.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.90 (6.44%) than the resistance at $1.10 (14.23%), 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 Short ETF A Buy?
Wisdomtree Silver 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. 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: -0.529 Hold/Accumulate Downgraded
Predicted Opening Price for Wisdomtree Silver 3x Daily Short of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.96 ( 0%) | $0.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3SIS.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | - |
| R2 | 0.96 | - |
| R1 | 0.96 | - |
| Price | 0.96 | |
| S1 | 0.96 | - |
| S2 | 0.96 | - |
| S3 | 0.96 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.20 | 24.61% |
| R2 | 1.17 | 21.50% |
| R1 | 1.10 | 14.23% |
| Price | 0.96 | |
| S1 | 0.90 | -6.44% |
| S2 | 0.80 | -16.46% |
| S3 | 0.786 | -18.38% |
FAQ
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