Wisdomtree Enhanced Commodity Ucits Etf ETF Forecast
Red day on Tuesday for Wisdomtree Enhanced Commodity Ucits Etf ETF after losing 0.286%
(Updated on Jun 25, 2024)
The Wisdomtree Enhanced Commodity Ucits Etf ETF price fell by -0.286% on the last day (Tuesday, 25th Jun 2024) from $14.84 to $14.80. During the last trading day the ETF fluctuated 0.676% from a day low at $14.80 to a day high of $14.90. The price has fallen in 6 of the last 10 days and is down by -0.59% for this period. Volume has increased on the last day by 7 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, 8 thousand shares were bought and sold for approximately $123.46 thousand.
The ETF has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $14.81 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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WCOA.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 0.237%. 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 Enhanced Commodity Ucits Etf 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 $14.86 and $14.98. 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). Wisdomtree Enhanced Commodity Ucits Etf gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Wisdomtree Enhanced Commodity Ucits Etf ETF
Wisdomtree Enhanced Commodity Ucits Etf finds support from accumulated volume at $14.76 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 $0.1000 between high and low, or 0.676%. For the last week the ETF has had daily average volatility of 0.610%.
Our recommended stop-loss: $14.04 (-5.07%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (WCOA.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wisdomtree Enhanced Commodity Ucits Etf - Usd Acc to open at $14.83, and during the day (based on 14 day Average True Range), to move between $14.67 and $14.92, which gives a possible trading interval of +/-$0.122 (+/-0.83%) up or down from last closing price. If Wisdomtree Enhanced Commodity Ucits Etf - Usd Acc takes out the full calculated possible swing range there will be an estimated 1.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.81 (0.10%) than the support at $14.76 (0.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wisdomtree Enhanced Commodity Ucits Etf - Usd Acc ETF A Buy?
Wisdomtree Enhanced Commodity Ucits Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.349 Hold/Accumulate Unchanged
Predicted Opening Price for Wisdomtree Enhanced Commodity Ucits Etf - Usd Acc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $14.83 ( 0.225%) | $14.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCOA.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.93 | 0.90% |
| R2 | 14.89 | 0.643% |
| R1 | 14.87 | 0.483% |
| Price | 14.80 | |
| S1 | 14.79 | -0.0329% |
| S2 | 14.77 | -0.192% |
| S3 | 14.73 | -0.451% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.01 | 1.45% |
| R2 | 14.92 | 0.84% |
| R1 | 14.81 | 0.101% |
| Price | 14.80 | |
| S1 | 14.76 | -0.237% |
| S2 | 14.73 | -0.439% |
| S3 | 14.70 | -0.642% |
FAQ
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