Wisdomtree Zinc - Eur Daily Hedged ETF Forecast

Strong day for Wisdomtree Zinc - Eur Daily Hedged ETF price on Friday rising 7.43% to 11.60€
(Updated on Jun 28, 2024)

EZNC.MI Signals & Forecast

The Wisdomtree Zinc - Eur Daily Hedged ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 10.98€ and 11.37€. A breakdown below any of these levels will issue sell signals. Wisdomtree Zinc - Eur Daily Hedged has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Tuesday, May 21, 2024, and so far it has fallen -6.00%. 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).

Support, Risk & Stop-loss for Wisdomtree Zinc - Eur Daily Hedged ETF

On the downside, the ETF finds support just below today's level from accumulated volume at 10.82€ and 10.80€. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Wisdomtree Zinc - Eur Daily Hedged finds support just below today's level at 10.82€. If this is broken, then the next support from accumulated volume will be at 10.80€ and 10.58€.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. 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%.

Our recommended stop-loss: 10.90€ (-6.06%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 48 days ago.)

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

For the upcoming trading day on Monday, 1st we expect Wisdomtree Zinc - Eur Daily Hedged to open at 11.60€, and during the day (based on 14 day Average True Range), to move between 11.35€ and 11.85€, which gives a possible trading interval of +/-0.252€ (+/-2.17%) up or down from last closing price. If Wisdomtree Zinc - Eur Daily Hedged takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 11.63€ (0.26%) than the support at 10.82€ (6.72%), 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 Zinc - Eur Daily Hedged ETF A Buy?

Wisdomtree Zinc - Eur Daily Hedged 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 Zinc - Eur Daily Hedged of Monday, July 1, 2024

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