Wisdomtree Industrial Metals - Gbp Daily ETF Forecast
Weaker technical forecast for Wisdomtree Industrial Metals - Gbp Daily as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The Wisdomtree Industrial Metals - Gbp Daily ETF price fell by -0.496% on the last day (Tuesday, 25th Jun 2024) from £781.75 to £777.88. During the last trading day the ETF fluctuated 0.627% from a day low at £777.88 to a day high of £782.75. The price has fallen in 4 of the last 10 days and is down by -1.94% for this period. Volume has increased on the last day by 13 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, 13 thousand shares were bought and sold for approximately £9.96 million.
The ETF lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £775.90 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 7.43% during the next 3 months and, with a 90% probability hold a price between £833.58 and £984.11 at the end of this 3-month period.
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PIMT.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.533%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wisdomtree Industrial Metals - Gbp Daily 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 £787.16 and £823.22. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Wisdomtree Industrial Metals - Gbp Daily ETF
Wisdomtree Industrial Metals - Gbp Daily finds support from accumulated volume at £766.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £4.88 between high and low, or 0.627%. For the last week, the ETF has had daily average volatility of 0.183%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PIMT.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wisdomtree Industrial Metals - Gbp Daily Hedged to open at £779.50, and during the day (based on 14 day Average True Range), to move between £766.03 and £789.72, which gives a possible trading interval of +/-£11.85 (+/-1.52%) up or down from last closing price. If Wisdomtree Industrial Metals - Gbp Daily Hedged takes out the full calculated possible swing range there will be an estimated 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £766.63 (1.45%) than the resistance at £802.75 (3.20%), 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 Industrial Metals - Gbp Daily Hedged ETF A Buy?
The Wisdomtree Industrial Metals - Gbp Daily ETF holds several negative signals and despite the positive trend, we believe Wisdomtree Industrial Metals - Gbp Daily 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 Hold/Accumulate to a Sell candidate.
Current score: -2.383 Sell Candidate Downgraded
Predicted Opening Price for Wisdomtree Industrial Metals - Gbp Daily Hedged of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| £779.50 ( 0.209%) | £777.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIMT.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 784.38 | 0.84% |
| R2 | 782.51 | 0.596% |
| R1 | 781.36 | 0.448% |
| Price | 777.88 | |
| S1 | 777.64 | -0.0305% |
| S2 | 776.49 | -0.178% |
| S3 | 774.63 | -0.418% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 818.00 | 5.16% |
| R2 | 817.38 | 5.08% |
| R1 | 802.75 | 3.20% |
| Price | 777.88 | |
| S1 | 766.63 | -1.45% |
| S2 | 766.25 | -1.49% |
| S3 | 713.13 | -8.32% |
FAQ
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