Wisdom Tree is an innovative ETF provider and asset manager. I have used their DXJ and HEDJ (currency hedged) ETFs on occasion.
You may recall that I use Bespoke Investment Group as a source for identifying fundamental prospects in individual stocks. WETF was added to their model portfolio a little over a month ago at a price of 11.14, which coincidentally happens to be today’s price. Despite its inclusion, B.I.G. note that it is a richly valued stock. But I would add that in a broadly over valued market pumping on emotion that is not a major driver in the short-term. In other words, as long as the market remains over valued, why not the likes of WETF?
On to the technicals, the stock has been declining relentlessly toward a support area (including the 50% Fib retrace, working off the big spike with the Financial sector after the Trump victory.
The weekly shows that it has been much more over valued in the past. It also shows a constructive RSI and MACD trend.
Buy Target: 10.50 to 10.70 looks like the best buy area.
Sell Target: 13 (conservative), 17 (more speculative).
Stop Loss: Below 10.50 to suit risk tolerance but I’d be pretty strict about not riding it much below 10.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.