WisdomTree Enhanced Commodity Strategy ETF Forecast
WisdomTree Enhanced Commodity Strategy ETF downgraded to Sell Candidate
(Updated on May 01, 2024)
The WisdomTree Enhanced Commodity Strategy ETF price fell by -1.11% on the last day (Wednesday, 1st May 2024) from $19.03 to $18.82. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 1.10% from a day low at $18.68 to a day high of $18.89. The price has fallen in 6 of the last 10 days and is down by -1.83% for this period. Volume has increased on the last day by 1 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, 49 thousand shares were bought and sold for approximately $918.99 thousand.
Given the current short-term trend, the ETF is expected to rise 17.23% during the next 3 months and, with a 90% probability hold a price between $22.06 and $23.08 at the end of this 3-month period.
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GCC Signals & Forecast
There are few to no technical positive signals at the moment. The WisdomTree Enhanced Commodity Strategy 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 $19.27 and $18.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -3.49%. 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). WisdomTree Enhanced Commodity Strategy 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".
Support, Risk & Stop-loss for WisdomTree Enhanced Commodity Strategy ETF
WisdomTree Enhanced Commodity Strategy finds support from accumulated volume at $18.55 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 $0.205 between high and low, or 1.10%. For the last week the ETF has had daily average volatility of 0.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GCC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect WisdomTree Enhanced Commodity Strategy Fund to open at $18.79, and during the day (based on 14 day Average True Range), to move between $18.56 and $19.08, which gives a possible trading interval of +/-$0.258 (+/-1.37%) up or down from last closing price. If WisdomTree Enhanced Commodity Strategy Fund takes out the full calculated possible swing range there will be an estimated 2.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.55 (1.43%) than the resistance at $19.27 (2.39%), 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 Enhanced Commodity Strategy Fund ETF A Buy?
The WisdomTree Enhanced Commodity Strategy ETF holds several negative signals and despite the positive trend, we believe WisdomTree Enhanced Commodity Strategy will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -4.321 Sell Candidate Downgraded
Predicted Opening Price for WisdomTree Enhanced Commodity Strategy Fund of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $18.79 ( 0.131%) | $18.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.00 | 0.96 % | |
| R2 | 18.92 | 0.542 % | ||
| R1 | 18.87 | 0.285 % | ||
| Current price: | 18.82 | |||
| Support | S1 | 18.72 | -0.547 % | |
| S2 | 18.67 | -0.80 % | ||
| S3 | 18.59 | -1.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.34 | 2.77 % | |
| R2 | 19.31 | 2.61 % | ||
| R1 | 19.27 | 2.39 % | ||
| Current price | 18.82 | |||
| Support | S1 | 18.55 | -1.43% | |
| S2 | 18.24 | -3.08% | ||
| S3 | 18.09 | -3.88% |
GCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.225 | 1.32% |
| 2 | Dec 09, 2022 | Oct 25, 2023 | Oct 30, 2023 | $0.399 | 2.26% |
| 3 | Jan 07, 2022 | Dec 23, 2022 | Dec 29, 2022 | $0.0790 | 0.436% |
| 4 | Jan 07, 2022 | Oct 25, 2022 | Oct 28, 2022 | $4.02 | 22.38% |
| 5 | Oct 07, 2021 | Oct 08, 2021 | Oct 14, 2021 | $2.03 | 9.54% |
FAQ
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