Wisdomtree Coffee - Eur Daily Hedged ETF Forecast
Wisdomtree Coffee - Eur Daily Hedged ETF price down 3.63% on Thursday
(Updated on Jun 27, 2024)
The Wisdomtree Coffee - Eur Daily Hedged ETF price fell by -3.63% on the last day (Thursday, 27th Jun 2024) from 4.52€ to 4.36€. During the last trading day the ETF fluctuated 2.09% from a day low at 4.27€ to a day high of 4.36€. The price has fallen in 5 of the last 10 days and is down by -0.31% for this period. Volume has increased on the last day by 2 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 9.61€ thousand.
The ETF lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 4.31€ 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 4.38% during the next 3 months and, with a 90% probability hold a price between 4.50€ and 4.91€ at the end of this 3-month period.
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ECOF.MI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wisdomtree Coffee - Eur Daily Hedged ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 4.48€ and 4.38€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -3.75%. Further fall is indicated until a new bottom pivot has been found. Wisdomtree Coffee - Eur Daily Hedged 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.
A sell signal from a double top formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should fall by -5.95% to 4.10€ within 6 trading days since signal was issued (Friday, June 14, 2024).
Support, Risk & Stop-loss for Wisdomtree Coffee - Eur Daily Hedged ETF
Wisdomtree Coffee - Eur Daily Hedged finds support from accumulated volume at 4.30€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved 0.0890€ (2.09%) between high and low. For the last week, the ETF has had daily average volatility of 0.770%.
Our recommended stop-loss: 4.19€ (-3.70%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ECOF.MI) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Wisdomtree Coffee - Eur Daily Hedged to open at 4.33€, and during the day (based on 14 day Average True Range), to move between 4.23€ and 4.48€, which gives a possible trading interval of +/-0.128€ (+/-2.93%) up or down from last closing price. If Wisdomtree Coffee - Eur Daily Hedged takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 4.40€ (1.09%) than the support at 4.30€ (1.30%), 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 Coffee - Eur Daily Hedged ETF A Buy?
Wisdomtree Coffee - Eur Daily Hedged holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Coffee - Eur Daily Hedged of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 4.33€ ( 0.681%) | 4.36€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECOF.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.42 | 1.36% |
| R2 | 4.38 | 0.582% |
| R1 | 4.36 | 0.0994% |
| Price | 4.36 | |
| S1 | 4.29 | -1.46% |
| S2 | 4.27 | -1.94% |
| S3 | 4.24 | -2.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.54 | 4.30% |
| R2 | 4.49 | 3.10% |
| R1 | 4.40 | 1.09% |
| Price | 4.36 | |
| S1 | 4.30 | -1.30% |
| S2 | 4.19 | -3.71% |
| S3 | 4.17 | -4.27% |
FAQ
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