Valkyrie Trust II - Valkyrie Bitcoin ETF Forecast
Red day on Friday for Valkyrie Trust II - Valkyrie Bitcoin ETF after losing 0.795%
(Updated on Apr 26, 2024)
The Valkyrie Trust II - Valkyrie Bitcoin ETF price fell by -0.795% on the last day (Friday, 26th Apr 2024) from $16.35 to $16.22. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 3.90% from a day low at $15.91 to a day high of $16.53. The price has been going up and down for this period, and there has been a 15.44% gain for the last 2 weeks. Volume has increased on the last day by 19 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, 201 thousand shares were bought and sold for approximately $3.26 million.
The ETF is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Valkyrie Trust II - Valkyrie Bitcoin ETF with a 90% probability to be traded between $12.94 and $19.74 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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WGMI Signals & Forecast
The Valkyrie Trust II - Valkyrie Bitcoin ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $15.81 and $16.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 23.44%. 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. 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 Valkyrie Trust II - Valkyrie Bitcoin ETF
Valkyrie Trust II - Valkyrie Bitcoin finds support from accumulated volume at $15.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $0.620 between high and low, or 3.90%. For the last week, the ETF has had daily average volatility of 7.28%.
Our recommended stop-loss: $15.75 (-2.92%) (This ETF has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (WGMI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF to open at $16.22, and during the day (based on 14 day Average True Range), to move between $15.09 and $17.35, which gives a possible trading interval of +/-$1.13 (+/-6.94%) up or down from last closing price. If Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF takes out the full calculated possible swing range there will be an estimated 13.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.58 (3.95%) than the resistance at $16.98 (4.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF ETF A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Valkyrie Trust II - Valkyrie Bitcoin ETF to perform well in the short-term period.
Current score: 3.152 Buy Candidate Unchanged
Predicted Opening Price for Valkyrie ETF Trust II - Valkyrie Bitcoin Miners ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $16.22 ( 0%) | $16.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WGMI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.84 | 3.82 % | |
| R2 | 16.60 | 2.36 % | ||
| R1 | 16.46 | 1.46 % | ||
| Current price: | 16.22 | |||
| Support | S1 | 15.98 | -1.46 % | |
| S2 | 15.84 | -2.36 % | ||
| S3 | 15.60 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.60 | 14.67 % | |
| R2 | 17.04 | 5.06 % | ||
| R1 | 16.98 | 4.65 % | ||
| Current price | 16.22 | |||
| Support | S1 | 15.58 | -3.95% | |
| S2 | 15.10 | -6.91% | ||
| S3 | 14.03 | -13.50% |
WGMI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.0550 | 0.247% |
FAQ
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