Wisdomtree Natural Gas 1x Daily Short ETF Forecast
Green day on Wednesday for Wisdomtree Natural Gas 1x Daily Short
(Updated on Jun 26, 2024)
The Wisdomtree Natural Gas 1x Daily Short ETF price gained 2.89% on the last trading day (Wednesday, 26th Jun 2024), rising from $423.76 to $436.02. During the last trading day the ETF fluctuated 0.97% from a day low at $431.81 to a day high of $436.02. The price has risen in 5 of the last 10 days and is up by 10.28% over the past 2 weeks. Volume fell on the last day by -4 shares and in total, 2 shares were bought and sold for approximately $872.04 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $450.07 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -25.49% during the next 3 months and, with a 90% probability hold a price between $275.46 and $335.34 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SNGA.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 10.28%. Further rise is indicated until a new top pivot has been found. 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. The Wisdomtree Natural Gas 1x Daily Short ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $442.25. On a fall, the ETF will find some support from the short-term average at $423.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wisdomtree Natural Gas 1x Daily Short ETF
Wisdomtree Natural Gas 1x Daily Short finds support from accumulated volume at $418.57 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, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $4.21 between high and low, or 0.97%. For the last week the ETF has had daily average volatility of 1.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNGA.L) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Wisdomtree Natural Gas 1x Daily Short to open at $434.62, and during the day (based on 14 day Average True Range), to move between $424.06 and $447.98, which gives a possible trading interval of +/-$11.96 (+/-2.74%) up or down from last closing price. If Wisdomtree Natural Gas 1x Daily Short takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $418.57 (4.00%) than the resistance at $477.96 (9.62%), 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 Natural Gas 1x Daily Short ETF A Buy?
Wisdomtree Natural Gas 1x Daily Short holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.193 Sell Candidate Unchanged
Predicted Opening Price for Wisdomtree Natural Gas 1x Daily Short of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $434.62 ( 0.322%) | $436.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNGA.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 438.83 | 0.644% |
| R2 | 437.22 | 0.275% |
| R1 | 436.22 | 0.0470% |
| Price | 436.02 | |
| S1 | 433.01 | -0.691% |
| S2 | 432.01 | -0.92% |
| S3 | 430.41 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 531.21 | 21.83% |
| R2 | 511.75 | 17.37% |
| R1 | 477.96 | 9.62% |
| Price | 436.02 | |
| S1 | 418.57 | -4.00% |
| S2 | 404.60 | -7.21% |
| S3 | 396.61 | -9.04% |
FAQ
Click here for our free guide on how to buy Wisdomtree Natural Gas 1x Daily Short ETF.
