Wisdomtree Wheat 3x Daily Leveraged ETF Forecast

Wisdomtree Wheat 3x Daily Leveraged ETF price fell more than -10.34% Tuesday closing at $0.347
(Updated on Jun 25, 2024)

3WHL.L Signals & Forecast

There are few to no technical positive signals at the moment. The Wisdomtree Wheat 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 $0.425 and $0.603. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -54.70%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Wisdomtree Wheat 3x Daily Leveraged ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

This ETF may move very much during the day (volatility) and with periodic low trading volume this ETF is considered to be "very high risk". During the last day, the ETF moved $0.0230 between high and low, or 6.63%. For the last week the ETF has had daily average volatility of 4.89%.

Wisdomtree Wheat 3x Daily Leveraged 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 (3WHL.L) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Wisdomtree Wheat 3x Daily Leveraged to open at $0.355, and during the day (based on 14 day Average True Range), to move between $0.305 and $0.389, which gives a possible trading interval of +/-$0.0421 (+/-12.13%) up or down from last closing price. If Wisdomtree Wheat 3x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 24.26% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.387, some $0.0400 (11.53%) from the current price of $0.347, our system finds the risk reward not very attractive.

Is Wisdomtree Wheat 3x Daily Leveraged ETF A Buy?

The Wisdomtree Wheat 3x Daily Leveraged ETF holds several negative signals and despite the positive trend, we believe Wisdomtree Wheat 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: -4.000 Sell Candidate Unchanged

Predicted Opening Price for Wisdomtree Wheat 3x Daily Leveraged of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.