Wisdomtree Long Gbp Short Eur ETF Forecast

Red day on Friday for Wisdomtree Long Gbp Short Eur ETF after losing 0%
(Updated on Jun 28, 2024)

EUGB.MI Signals & Forecast

The Wisdomtree Long Gbp Short Eur 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 51.35€ and 50.88€. 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 Wednesday, June 12, 2024, and so far it has fallen -0.252%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Friday, April 26, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, November 22, 2023.

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 Long Gbp Short Eur ETF

Wisdomtree Long Gbp Short Eur finds support from accumulated volume at 51.33€ 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€ between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0039%

Our recommended stop-loss: 49.47€ (-3.68%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (EUGB.MI) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Wisdomtree Long Gbp Short Eur to open at 51.36€, and during the day (based on 14 day Average True Range), to move between 51.14€ and 51.58€, which gives a possible trading interval of +/-0.216€ (+/-0.42%) up or down from last closing price. If Wisdomtree Long Gbp Short Eur takes out the full calculated possible swing range there will be an estimated 0.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 51.39€ (0.06%) than the support at 51.33€ (0.06%), 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 Gbp Short Eur ETF A Buy?

Wisdomtree Long Gbp Short Eur 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: 0.160 Hold/Accumulate Unchanged

Predicted Opening Price for Wisdomtree Long Gbp Short Eur of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.