WisdomTree India Earnings Fund ETF Forecast
WisdomTree India Earnings Fund ETF upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The WisdomTree India Earnings Fund ETF price gained 0.394% on the last trading day (Monday, 20th May 2024), rising from $45.65 to $45.83. It has now gained 6 days in a row. It is not often that ETFS manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 0.240% from a day low at $45.77 to a day high of $45.88. The price has risen in 7 of the last 10 days and is up by 1.8% 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, 3 thousand more shares were traded than the day before. In total, 588 thousand shares were bought and sold for approximately $26.94 million.
The ETF lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $45.97 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 3.13% during the next 3 months and, with a 90% probability hold a price between $44.59 and $47.41 at the end of this 3-month period.
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EPI Signals & Forecast
The WisdomTree India Earnings Fund 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 $44.93 and $44.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 4.40%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for WisdomTree India Earnings Fund ETF
WisdomTree India Earnings Fund finds support from accumulated volume at $44.87 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 $0.110 between high and low, or 0.240%. For the last week the ETF has had daily average volatility of 0.328%.
Since the WisdomTree India Earnings Fund has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $43.47 (-5.16%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (EPI) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect WisdomTree India Earnings Fund to open at $45.83, and during the day (based on 14 day Average True Range), to move between $45.45 and $46.21, which gives a possible trading interval of +/-$0.379 (+/-0.83%) up or down from last closing price. If WisdomTree India Earnings Fund takes out the full calculated possible swing range there will be an estimated 1.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $44.87, some $0.96 (2.09%) from the current price of $45.83, our system finds the risk reward attractive.
Is WisdomTree India Earnings Fund ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for WisdomTree India Earnings Fund ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.926 Buy Candidate Upgraded
Predicted Opening Price for WisdomTree India Earnings Fund of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $45.83 ( 0.0073%) | $45.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EPI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.94 | 0.233 % | |
| R2 | 45.89 | 0.141 % | ||
| R1 | 45.87 | 0.0844 % | ||
| Current price: | 45.83 | |||
| Support | S1 | 45.78 | -0.0990 % | |
| S2 | 45.76 | -0.156 % | ||
| S3 | 45.72 | -0.247 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 45.83 | |||
| Support | S1 | 44.87 | -2.09% | |
| S2 | 42.78 | -6.66% | ||
| S3 | 42.27 | -7.77% |
EPI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 19, 2022 | Jun 26, 2023 | Jun 29, 2023 | $0.0600 | 0.174% |
| 2 | Jan 06, 2022 | Jun 24, 2022 | Jun 29, 2022 | $1.85 | 6.21% |
| 3 | Jan 06, 2022 | Mar 25, 2022 | Mar 30, 2022 | $0.115 | 0.317% |
| 4 | Jan 12, 2021 | Dec 27, 2021 | Dec 30, 2021 | $0.192 | 0.526% |
| 5 | Jan 12, 2021 | Sep 24, 2021 | Sep 29, 2021 | $0.110 | 0.293% |
FAQ
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