Wisdomtree Long Chf Short Eur 3x Daily ETF Forecast
Wisdomtree Long Chf Short Eur 3x Daily ETF price ended at 60.96€ on Friday, after losing 0.115%.
(Updated on Jun 21, 2024)
The Wisdomtree Long Chf Short Eur 3x Daily ETF price fell by -0.115% on the last day (Friday, 21st Jun 2024) from 61.03€ to 60.96€. During the last trading day the ETF fluctuated 0.410% from a day low at 60.96€ to a day high of 61.21€. The price has risen in 5 of the last 10 days and is up by 10.66% over the past 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately 93.57€ thousand.
The ETF lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 60.92€ 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 11.01% during the next 3 months and, with a 90% probability hold a price between 67.63€ and 71.82€ at the end of this 3-month period.
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ECH3.MI Signals & Forecast
The Wisdomtree Long Chf Short Eur 3x Daily 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 60.83€ and 59.22€. A breakdown below any of these levels will issue sell signals. 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 Friday, June 14, 2024, and so far it has fallen -1.33%. Further fall is indicated until a new bottom pivot has been found. Wisdomtree Long Chf Short Eur 3x Daily gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Long Chf Short Eur 3x Daily ETF
Wisdomtree Long Chf Short Eur 3x Daily finds support from accumulated volume at 59.76€ 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 0.250€ between high and low, or 0.410%. For the last week the ETF has had daily average volatility of 0.167%.
Our recommended stop-loss: 59.38€ (-2.59%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ECH3.MI) For The Upcoming Trading Day Of Monday 24th
Since the stock is closer to the resistance from accumulated volume at 61.00€ (0.07%) than the support at 59.76€ (1.97%), 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 Long Chf Short Eur 3x Daily ETF A Buy?
Wisdomtree Long Chf Short Eur 3x Daily 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 Long Chf Short Eur 3x Daily of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 61.04€ ( 0.137%) | 60.96€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECH3.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.29 | 0.547% |
| R2 | 61.20 | 0.390% |
| R1 | 61.14 | 0.293% |
| Price | 60.96 | |
| S1 | 60.95 | -0.0200% |
| S2 | 60.89 | -0.117% |
| S3 | 60.79 | -0.273% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.78 | 1.35% |
| R2 | 61.03 | 0.115% |
| R1 | 61.00 | 0.0656% |
| Price | 60.96 | |
| S1 | 59.76 | -1.97% |
| S2 | 59.01 | -3.20% |
| S3 | 57.64 | -5.45% |
FAQ
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