Wisdomtree Wheat 3x Daily Leveraged ETF Forecast
Wisdomtree Wheat 3x Daily Leveraged ETF price up more than 6.03% on Friday
(Updated on Jun 28, 2024)
The Wisdomtree Wheat 3x Daily Leveraged ETF price gained 6.03% on the last trading day (Friday, 28th Jun 2024), rising from $0.365 to $0.387. During the last trading day the ETF fluctuated 4.76% from a day low at $0.378 to a day high of $0.396. The price has fallen in 7 of the last 10 days and is down by -26.84% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 636 thousand more shares were traded than the day before. In total, 636 thousand shares were bought and sold for approximately $246.01 thousand.
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 $0.351 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 10.72% during the next 3 months and, with a 90% probability hold a price between $0.389 and $0.88 at the end of this 3-month period.
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3WHL.L Signals & Forecast
There are mixed signals in the ETF today. The Wisdomtree Wheat 3x Daily Leveraged ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $0.586. On a fall, the ETF will find some support from the short-term average at $0.385. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -49.48%. 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). Wisdomtree Wheat 3x Daily Leveraged has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Wisdomtree Wheat 3x Daily Leveraged ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $0.365 and $0.347. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.347 may give a huge drop in the ETF price.
This ETF may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this ETF is considered to be "very high risk". During the last day, the ETF moved $0.0180 between high and low, or 4.76%. For the last week, the ETF has had daily average volatility of 4.66%.
Wisdomtree Wheat 3x Daily Leveraged is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $0.361 (-6.64%) (This ETF has very high daily movements and this gives very high risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (3WHL.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wisdomtree Wheat 3x Daily Leveraged to open at $0.387, and during the day (based on 14 day Average True Range), to move between $0.350 and $0.424, which gives a possible trading interval of +/-$0.0371 (+/-9.58%) 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 19.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.365 (5.68%) than the resistance at $0.414 (6.98%), 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 Wheat 3x Daily Leveraged ETF A Buy?
Wisdomtree Wheat 3x Daily Leveraged 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Wisdomtree Wheat 3x Daily Leveraged of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.387 ( 0%) | $0.387 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3WHL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.405 | 4.65% |
| R2 | 0.398 | 2.87% |
| R1 | 0.394 | 1.78% |
| Price | 0.387 | |
| S1 | 0.380 | -1.78% |
| S2 | 0.376 | -2.87% |
| S3 | 0.369 | -4.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.454 | 17.31% |
| R2 | 0.442 | 14.21% |
| R1 | 0.414 | 6.98% |
| Price | 0.387 | |
| S1 | 0.365 | -5.68% |
| S2 | 0.347 | -10.34% |
| S3 | 0 | - |
FAQ
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