Wisdomtree Short Usd Long Eur ETF Forecast
Evaluation of Wisdomtree Short Usd Long Eur ETF downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Wisdomtree Short Usd Long Eur ETF price fell by -0.238% on the last day (Friday, 21st Jun 2024) from 29.42€ to 29.35€. During the last trading day the ETF fluctuated 0.136% from a day low at 29.33€ to a day high of 29.37€. The price has fallen in 6 of the last 10 days and is down by -1.08% for this period. 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 -2 thousand shares and in total, 550 shares were bought and sold for approximately 16.14€ thousand.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 29.26€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Wisdomtree Short Usd Long Eur ETF with a 90% probability to be traded between 29.41€ and 30.05€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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USEU.MI Signals & Forecast
There are few to no technical positive signals at the moment. The Wisdomtree Short Usd Long Eur 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 29.45€ and 29.65€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -1.76%. 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 Short Usd Long Eur ETF
Wisdomtree Short Usd Long Eur finds support from accumulated volume at 29.32€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved 0.0400€ between high and low, or 0.136%. For the last week the ETF has had daily average volatility of 0.126%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USEU.MI) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Wisdomtree Short Usd Long Eur to open at 29.35€, and during the day (based on 14 day Average True Range), to move between 29.22€ and 29.48€, which gives a possible trading interval of +/-0.126€ (+/-0.43%) up or down from last closing price. If Wisdomtree Short Usd Long Eur takes out the full calculated possible swing range there will be an estimated 0.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 29.32€ (0.10%) than the resistance at 29.50€ (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 Short Usd Long Eur ETF A Buy?
Wisdomtree Short Usd Long Eur holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.159 Sell Candidate Downgraded
Predicted Opening Price for Wisdomtree Short Usd Long Eur of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 29.35€ ( 0.0114%) | 29.35€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USEU.MI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.39 | 0.125% |
| R2 | 29.37 | 0.0729% |
| R1 | 29.36 | 0.0407% |
| Price | 29.35 | |
| S1 | 29.33 | -0.0634% |
| S2 | 29.32 | -0.0956% |
| S3 | 29.31 | -0.148% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.82 | 1.60% |
| R2 | 29.69 | 1.16% |
| R1 | 29.50 | 0.511% |
| Price | 29.35 | |
| S1 | 29.32 | -0.102% |
| S2 | 29.17 | -0.613% |
| S3 | 29.16 | -0.647% |
FAQ
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