Wisdomtree Silver 2x Daily Leveraged ETF Forecast
Wisdomtree Silver 2x Daily Leveraged ETF price ended at $6.74 on Tuesday, after losing 4.29%.
(Updated on Jun 25, 2024)
The Wisdomtree Silver 2x Daily Leveraged ETF price fell by -4.29% on the last day (Tuesday, 25th Jun 2024) from $7.04 to $6.74. During the last trading day the ETF fluctuated 2.35% from a day low at $6.74 to a day high of $6.90. The price has been going up and down for this period, and there has been a -4.41% loss for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -5 thousand shares and in total, 329 shares were bought and sold for approximately $2.22 thousand.
The ETF lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.69 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 22.46% during the next 3 months and, with a 90% probability hold a price between $8.19 and $11.20 at the end of this 3-month period.
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LSIL.L Signals & Forecast
There are few to no technical positive signals at the moment. The Wisdomtree Silver 2x Daily Leveraged 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 $6.96 and $7.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -20.88%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Silver 2x Daily Leveraged ETF
Wisdomtree Silver 2x Daily Leveraged finds support from accumulated volume at $6.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with periodic low trading volume this ETF is considered to be "high risk". During the last day, the ETF moved $0.159 between high and low, or 2.35%. For the last week the ETF has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LSIL.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wisdomtree Silver 2x Daily Leveraged to open at $6.79, and during the day (based on 14 day Average True Range), to move between $6.42 and $7.06, which gives a possible trading interval of +/-$0.317 (+/-4.70%) up or down from last closing price. If Wisdomtree Silver 2x Daily Leveraged takes out the full calculated possible swing range there will be an estimated 9.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.64 (1.50%) than the resistance at $6.87 (1.91%), 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 Silver 2x Daily Leveraged ETF A Buy?
The Wisdomtree Silver 2x Daily Leveraged ETF holds several negative signals and despite the positive trend, we believe Wisdomtree Silver 2x Daily Leveraged will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this ETF.
Current score: -1.838 Sell Candidate Unchanged
Predicted Opening Price for Wisdomtree Silver 2x Daily Leveraged of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $6.79 ( 0.785%) | $6.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LSIL.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.95 | 3.14% |
| R2 | 6.89 | 2.24% |
| R1 | 6.85 | 1.68% |
| Price | 6.74 | |
| S1 | 6.73 | -0.115% |
| S2 | 6.70 | -0.670% |
| S3 | 6.64 | -1.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.42 | 24.90% |
| R2 | 7.23 | 7.25% |
| R1 | 6.87 | 1.91% |
| Price | 6.74 | |
| S1 | 6.64 | -1.50% |
| S2 | 6.21 | -7.88% |
| S3 | 5.22 | -22.57% |
FAQ
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