WisdomTree Live Cattle ETF Forecast
Green day on Friday for WisdomTree Live Cattle
(Updated on May 17, 2024)
The WisdomTree Live Cattle ETF price gained 1.56% on the last trading day (Friday, 17th May 2024), rising from £6.66 to £6.77. During the last trading day the ETF fluctuated 2.13% from a day low at £6.68 to a day high of £6.82. The price has risen in 5 of the last 10 days and is up by 2.36% 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, 9 more shares were traded than the day before. In total, 9 shares were bought and sold for approximately £60.90 .
Given the current short-term trend, the ETF is expected to fall -3.99% during the next 3 months and, with a 90% probability hold a price between £6.07 and £6.50 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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CATL.L Signals & Forecast
The WisdomTree Live Cattle ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £6.66 and £6.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 5.09%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). WisdomTree Live Cattle 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. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Monday, May 13, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Monday, May 13, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for WisdomTree Live Cattle ETF
WisdomTree Live Cattle finds support from accumulated volume at £6.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved £0.143 between high and low, or 2.13%. For the last week the ETF has had daily average volatility of 0.654%.
Our recommended stop-loss: £6.41 (-5.23%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (CATL.L) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect WisdomTree Live Cattle to open at £6.75, and during the day (based on 14 day Average True Range), to move between £6.71 and £6.82, which gives a possible trading interval of +/-£0.0516 (+/-0.76%) up or down from last closing price. If WisdomTree Live Cattle takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £6.80 (0.55%) than the support at £6.69 (1.09%), 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 Live Cattle ETF A Buy?
WisdomTree Live Cattle 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Live Cattle of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| £6.75 ( 0.172%) | £6.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CATL.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.90 | 1.93 % | |
| R2 | 6.84 | 1.13 % | ||
| R1 | 6.81 | 0.632 % | ||
| Current price: | 6.77 | |||
| Support | S1 | 6.70 | -0.98 % | |
| S2 | 6.67 | -1.47 % | ||
| S3 | 6.61 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.89 | 1.81 % | |
| R2 | 6.81 | 0.610 % | ||
| R1 | 6.80 | 0.554 % | ||
| Current price | 6.77 | |||
| Support | S1 | 6.69 | -1.09% | |
| S2 | 6.61 | -2.31% | ||
| S3 | 6.56 | -2.99% |
FAQ
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