WISDOMTREE CBOE S&P 500 PUTWRITE ETF Forecast

Weaker technical forecast for WISDOMTREE CBOE S&P 500 PUTWRITE as ETF downgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)

PUTW Signals & Forecast

The WISDOMTREE CBOE S&P 500 PUTWRITE ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $33.55. On a fall, the ETF will find some support from the long-term average at approximately $33.15. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, June 21, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. 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 CBOE S&P 500 PUTWRITE ETF

WISDOMTREE CBOE S&P 500 PUTWRITE finds support from accumulated volume at $33.20 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 $0.195 between high and low, or 0.587%. For the last week the ETF has had daily average volatility of 0.644%.

Our recommended stop-loss: $32.19 (-3.33%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (PUTW) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect WISDOMTREE CBOE S&P 500 PUTWRITE STRATEGY FUND N/A to open at $33.30, and during the day (based on 14 day Average True Range), to move between $33.05 and $33.55, which gives a possible trading interval of +/-$0.249 (+/-0.75%) up or down from last closing price. If WISDOMTREE CBOE S&P 500 PUTWRITE STRATEGY FUND N/A takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $33.20 (0.30%) than the resistance at $33.47 (0.51%), 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 CBOE S&P 500 PUTWRITE STRATEGY FUND N/A ETF A Buy?

WISDOMTREE CBOE S&P 500 PUTWRITE 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. 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 Hold/Accumulate candidate.

Current score: -0.096 Hold/Accumulate Downgraded

Predicted Opening Price for WISDOMTREE CBOE S&P 500 PUTWRITE STRATEGY FUND N/A of Wednesday, June 26, 2024

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