WisdomTree Enhanced Commodity UCITS ETF Forecast
WisdomTree Enhanced Commodity UCITS ETF upgraded to Buy Candidate.
(Updated on May 03, 2024)
The WisdomTree Enhanced Commodity UCITS ETF price gained 0.753% on the last trading day (Friday, 3rd May 2024), rising from £1,287.70 to £1,297.40. During the last trading day the ETF fluctuated 0.337% from a day low at £1,293.04 to a day high of £1,297.40. The price has fallen in 6 of the last 10 days and is down by -1.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 652 more shares were traded than the day before. In total, 715 shares were bought and sold for approximately £927.64 thousand.
The ETF lies in the lower part of a narrow and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £1,289.70 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 10.12% during the next 3 months and, with a 90% probability hold a price between £1,420.16 and £1,489.26 at the end of this 3-month period.
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WCOM.L Signals & Forecast
The WisdomTree Enhanced Commodity UCITS 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 £1,302.66. On a fall, the ETF will find some support from the long-term average at approximately £1,290.34. 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. WisdomTree Enhanced Commodity UCITS has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 15, 2024, and so far it has fallen -2.04%. 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).
Support, Risk & Stop-loss for WisdomTree Enhanced Commodity UCITS ETF
WisdomTree Enhanced Commodity UCITS finds support from accumulated volume at £1,296.50 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 £4.36 between high and low, or 0.337%. For the last week the ETF has had daily average volatility of 0.569%.
Our recommended stop-loss: £1,239.22 (-4.48%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (WCOM.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect WisdomTree Enhanced Commodity UCITS ETF to open at £1,295.95, and during the day (based on 14 day Average True Range), to move between £1,285.98 and £1,308.82, which gives a possible trading interval of +/-£11.42 (+/-0.88%) up or down from last closing price. If WisdomTree Enhanced Commodity UCITS ETF takes out the full calculated possible swing range there will be an estimated 1.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £1,296.50 (0.07%) than the resistance at £1,300.20 (0.22%), 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 Enhanced Commodity UCITS ETF ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for WisdomTree Enhanced Commodity UCITS ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 3.937 Buy Candidate Upgraded
Predicted Opening Price for WisdomTree Enhanced Commodity UCITS ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £1,295.95 ( 0.112%) | £1,297.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCOM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,300.31 | 0.224 % | |
| R2 | 1,298.64 | 0.0956 % | ||
| R1 | 1,297.61 | 0.0163 % | ||
| Current price: | 1,297.40 | |||
| Support | S1 | 1,294.28 | -0.240 % | |
| S2 | 1,293.25 | -0.320 % | ||
| S3 | 1,291.59 | -0.448 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,313.90 | 1.27 % | |
| R2 | 1,309.00 | 0.89 % | ||
| R1 | 1,300.20 | 0.216 % | ||
| Current price | 1,297.40 | |||
| Support | S1 | 1,296.50 | -0.0694% | |
| S2 | 1,223.10 | -5.73% | ||
| S3 | 1,223.00 | -5.73% |
FAQ
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