Wisdomtree Copper - Eur Daily Hedged ETF Forecast
Wisdomtree Copper - Eur Daily Hedged ETF price up 0.213% on Friday
(Updated on Jun 28, 2024)
The Wisdomtree Copper - Eur Daily Hedged ETF price gained 0.213% on the last trading day (Friday, 28th Jun 2024), rising from 7.50€ to 7.51€. During the last trading day the ETF fluctuated 1.05% from a day low at 7.49€ to a day high of 7.57€. The price has been going up and down for this period, and there has been a -1.78% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately 28.54€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 7.48€ 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 4.29% during the next 3 months and, with a 90% probability hold a price between 7.81€ and 9.31€ at the end of this 3-month period.
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ECOP.MI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.549%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wisdomtree Copper - Eur Daily Hedged 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 7.57€ and 7.94€. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Copper - Eur Daily Hedged ETF
Wisdomtree Copper - Eur Daily Hedged finds support from accumulated volume at 7.47€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0.0790€ between high and low, or 1.05%. For the last week the ETF has had daily average volatility of 0.99%
Our recommended stop-loss: 7.09€ (-5.63%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (ECOP.MI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Wisdomtree Copper - Eur Daily Hedged to open at 7.53€, and during the day (based on 14 day Average True Range), to move between 7.38€ and 7.65€, which gives a possible trading interval of +/-0.135€ (+/-1.80%) up or down from last closing price. If Wisdomtree Copper - Eur Daily Hedged takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 7.47€ (0.55%) than the resistance at 8.25€ (9.80%), 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 Copper - Eur Daily Hedged ETF A Buy?
Wisdomtree Copper - 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: -0.174 Hold/Accumulate Unchanged
Predicted Opening Price for Wisdomtree Copper - Eur Daily Hedged of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 7.53€ ( 0.173%) | 7.51€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECOP.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.61 | 1.22% |
| R2 | 7.58 | 0.82% |
| R1 | 7.56 | 0.575% |
| Price | 7.51 | |
| S1 | 7.50 | -0.229% |
| S2 | 7.48 | -0.477% |
| S3 | 7.45 | -0.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.44 | 12.32% |
| R2 | 8.39 | 11.66% |
| R1 | 8.25 | 9.80% |
| Price | 7.51 | |
| S1 | 7.47 | -0.546% |
| S2 | 7.39 | -1.65% |
| S3 | 7.26 | -3.38% |
FAQ
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