Grayscale Future of Finance ETF Forecast
Green day on Thursday for Grayscale Future of Finance ETF after gaining 0.682%
(Updated on May 09, 2024)
The Grayscale Future of Finance ETF price gained 0.682% on the last trading day (Thursday, 9th May 2024), rising from $16.14 to $16.25. During the last trading day the ETF fluctuated 1.80% from a day low at $16.08 to a day high of $16.37. The price has risen in 5 of the last 10 days but is still down by -2.69% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 545 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $39.57 thousand.
The ETF lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -8.76% during the next 3 months and, with a 90% probability hold a price between $13.24 and $16.53 at the end of this 3-month period.
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GFOF Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.17%. 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). Grayscale Future of Finance 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Grayscale Future of Finance ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $16.78. On a fall, the ETF will find some support from the short-term average at $16.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
A sell signal from a double top formation was found on Thursday, March 28, 2024 and based on theory for this formation the price should fall by -14.04% to $13.97 within 22 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for Grayscale Future of Finance ETF
Grayscale Future of Finance finds support from accumulated volume at $15.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.290 between high and low, or 1.80%. For the last week, the ETF has had daily average volatility of 1.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GFOF) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Grayscale Future of Finance ETF to open at $16.23, and during the day (based on 14 day Average True Range), to move between $15.71 and $16.79, which gives a possible trading interval of +/-$0.540 (+/-3.32%) up or down from last closing price. If Grayscale Future of Finance ETF takes out the full calculated possible swing range there will be an estimated 6.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.75 (3.08%) than the resistance at $16.93 (4.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Grayscale Future of Finance ETF ETF A Buy?
Grayscale Future of Finance holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF.
Current score: -1.757 Sell Candidate Unchanged
Predicted Opening Price for Grayscale Future of Finance ETF of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $16.23 ( 0.103%) | $16.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GFOF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.52 | 1.68 % | |
| R2 | 16.41 | 1.00 % | ||
| R1 | 16.34 | 0.579 % | ||
| Current price: | 16.25 | |||
| Support | S1 | 16.12 | -0.784 % | |
| S2 | 16.05 | -1.21 % | ||
| S3 | 15.94 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.80 | 15.72 % | |
| R2 | 17.42 | 7.17 % | ||
| R1 | 16.93 | 4.18 % | ||
| Current price | 16.25 | |||
| Support | S1 | 15.75 | -3.08% | |
| S2 | 15.13 | -6.89% | ||
| S3 | 15.00 | -7.70% |
GFOF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.555 | 2.80% |
| 2 | Dec 19, 2023 | Dec 19, 2023 | Dec 19, 2023 | $0.0960 | 0.554% |
| 3 | Jun 20, 2023 | Jun 21, 2023 | Jun 29, 2023 | $0.0790 | 0.601% |
FAQ
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