Grayscale Digital Large Cap Fund LLC Stock Forecast
Grayscale Digital Large Cap Fund LLC stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Grayscale Digital Large Cap Fund LLC stock price gained 4.19% on the last trading day (Tuesday, 25th Jun 2024), rising from $21.01 to $21.89. During the last trading day the stock fluctuated 2.24% from a day low at $21.42 to a day high of $21.90. The price has fallen in 6 of the last 10 days and is down by -14.16% for this period. Volume fell on the last day by -2 thousand shares and in total, 21 thousand shares were bought and sold for approximately $463.59 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.13% during the next 3 months and, with a 90% probability hold a price between $22.28 and $31.31 at the end of this 3-month period.
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GDLC Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 4.19%. 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 Grayscale Digital Large Cap Fund LLC stock 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 $22.32 and $22.95. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Grayscale Digital Large Cap Fund LLC stock
On the downside, the stock finds support just below today's level from accumulated volume at $20.39 and $18.08. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Grayscale Digital Large Cap Fund LLC finds support just below today's level at $20.39. If this is broken, then the next support from accumulated volume will be at $18.08 and $17.78.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.480 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 2.95%.
Our recommended stop-loss: $20.70 (-5.41%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (GDLC) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Grayscale Digital Large Cap Fund LLC to open at $21.74, and during the day (based on 14 day Average True Range), to move between $20.85 and $22.93, which gives a possible trading interval of +/-$1.04 (+/-4.77%) up or down from last closing price. If Grayscale Digital Large Cap Fund LLC takes out the full calculated possible swing range there will be an estimated 9.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.92 (4.71%) than the support at $20.39 (6.85%), 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 Grayscale Digital Large Cap Fund LLC stock A Buy?
Grayscale Digital Large Cap Fund LLC 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.187 Hold/Accumulate Upgraded
Predicted Opening Price for Grayscale Digital Large Cap Fund LLC of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $21.74 ( 0.700%) | $21.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDLC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.22 | 1.49% |
| R2 | 22.03 | 0.655% |
| R1 | 21.92 | 0.137% |
| Price | 21.89 | |
| S1 | 21.55 | -1.54% |
| S2 | 21.44 | -2.06% |
| S3 | 21.26 | -2.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.70 | 21.97% |
| R2 | 23.32 | 6.53% |
| R1 | 22.92 | 4.71% |
| Price | 21.89 | |
| S1 | 20.39 | -6.85% |
| S2 | 18.08 | -17.40% |
| S3 | 17.78 | -18.78% |
FAQ
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