Wisdomtree Enhanced Commodity ETF Forecast

Wisdomtree Enhanced Commodity ETF upgraded to Buy Candidate.
(Updated on Jun 19, 2024)

WXAG.L Signals & Forecast

The Wisdomtree Enhanced Commodity 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 £11.58 and £11.82. 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). 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.330%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for Wisdomtree Enhanced Commodity ETF

Wisdomtree Enhanced Commodity finds support from accumulated volume at £11.53 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 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0822%

Wisdomtree Enhanced Commodity is oversold on RSI14 (18). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: £10.79 (-6.63%) (This ETF has low daily movements and this gives low risk. Low RSI14 is 18 which reduces the risk some. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (WXAG.L) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Wisdomtree Enhanced Commodity Ex-agriculture Ucits Etf to open at £11.56, and during the day (based on 14 day Average True Range), to move between £11.46 and £11.65, which gives a possible trading interval of +/-£0.0941 (+/-0.81%) up or down from last closing price. If Wisdomtree Enhanced Commodity Ex-agriculture Ucits Etf takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £11.57 (0.12%) than the support at £11.53 (0.26%), 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 Ex-agriculture Ucits Etf ETF A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 1.286 Buy Candidate Upgraded

Predicted Opening Price for Wisdomtree Enhanced Commodity Ex-agriculture Ucits Etf of Thursday, June 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.