Wisdomtree S&p 500 3x Daily Leveraged ETF Forecast
Wisdomtree S&p 500 3x Daily Leveraged ETF price ended at 91.83€ on Thursday, after gaining 0.536%.
(Updated on Jun 27, 2024)
The Wisdomtree S&p 500 3x Daily Leveraged ETF price gained 0.536% on the last trading day (Thursday, 27th Jun 2024), rising from 91.34€ to 91.83€. During the last trading day the ETF fluctuated 0.99% from a day low at 91.58€ to a day high of 92.49€. The price has risen in 7 of the last 10 days and is up by 3.31% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 27 thousand shares were bought and sold for approximately 2.50€ million.
The ETF lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at 94.07€ will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 19.49% during the next 3 months and, with a 90% probability hold a price between 98.89€ and 112.40€ at the end of this 3-month period.
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3USL.MI Signals & Forecast
The Wisdomtree S&p 500 3x Daily Leveraged 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 91.94€. On a fall, the ETF will find some support from the long-term average at approximately 85.73€. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 20, 2024, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Wisdomtree S&p 500 3x Daily Leveraged ETF
On the downside, the ETF finds support just below today's level from accumulated volume at 82.07€ and 74.84€. 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 S&p 500 3x Daily Leveraged finds support just below today's level at 82.07€. If this is broken, then the next support from accumulated volume will be at 74.84€ and 71.64€.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved 0.91€ between high and low, or 0.99%. For the last week, the ETF has had daily average volatility of 1.27%.
Our recommended stop-loss: 88.16€ (-4.00%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (3USL.MI) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Wisdomtree S&p 500 3x Daily Leveraged to open at 91.97€, and during the day (based on 14 day Average True Range), to move between 90.17€ and 93.49€, which gives a possible trading interval of +/-1.66€ (+/-1.81%) up or down from last closing price. If Wisdomtree S&p 500 3x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 91.88€ (0.05%) than the support at 82.07€ (10.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wisdomtree S&p 500 3x Daily Leveraged ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wisdomtree S&p 500 3x Daily Leveraged ETF to perform well in the short-term.
Current score: 2.276 Buy Candidate Unchanged
Predicted Opening Price for Wisdomtree S&p 500 3x Daily Leveraged of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 91.97€ ( 0.149%) | 91.83€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3USL.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.88 | 1.14% |
| R2 | 92.53 | 0.761% |
| R1 | 92.31 | 0.527% |
| Price | 91.83 | |
| S1 | 91.62 | -0.230% |
| S2 | 91.40 | -0.464% |
| S3 | 91.06 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.83 | 1.09% |
| R2 | 92.51 | 0.740% |
| R1 | 91.88 | 0.0544% |
| Price | 91.83 | |
| S1 | 82.07 | -10.63% |
| S2 | 74.84 | -18.50% |
| S3 | 71.64 | -21.99% |
FAQ
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