Grayscale Future of Finance ETF Forecast
Grayscale Future of Finance ETF price ended at $16.95 on Friday, after losing 1.69%.
(Updated on May 31, 2024)
The Grayscale Future of Finance ETF price fell by -1.69% on the last day (Friday, 31st May 2024) from $17.24 to $16.95. During the last trading day the ETF fluctuated 0.769% from a day low at $16.90 to a day high of $17.03. The price has risen in 6 of the last 10 days and is up by 2.73% over the past 2 weeks. Volume has increased on the last day by 1 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, 2 thousand shares were bought and sold for approximately $41.15 thousand.
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.50 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -5.35% during the next 3 months and, with a 90% probability hold a price between $13.70 and $16.57 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GFOF Signals & Forecast
The Grayscale Future of Finance ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $17.16. On a fall, the ETF will find some support from the long-term average at approximately $16.38. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -3.69%. Further fall is indicated until a new bottom pivot has been found. Grayscale Future of Finance gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Grayscale Future of Finance ETF
Grayscale Future of Finance finds support from accumulated volume at $16.93 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 $0.130 between high and low, or 0.769%. For the last week, the ETF has had daily average volatility of 1.83%.
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 Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Grayscale Future of Finance ETF to open at $16.96, and during the day (based on 14 day Average True Range), to move between $16.48 and $17.42, which gives a possible trading interval of +/-$0.471 (+/-2.78%) 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 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.93 (0.12%) than the resistance at $17.42 (2.74%), 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: -1.847 Sell Candidate Unchanged
Predicted Opening Price for Grayscale Future of Finance ETF of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $16.96 ( 0.0590%) | $16.95 |
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 | 17.09 | 0.83 % | |
| R2 | 17.04 | 0.533 % | ||
| R1 | 17.01 | 0.352 % | ||
| Current price: | 16.95 | |||
| Support | S1 | 16.91 | -0.234 % | |
| S2 | 16.88 | -0.415 % | ||
| S3 | 16.83 | -0.708 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.94 | 11.74 % | |
| R2 | 17.91 | 5.66 % | ||
| R1 | 17.42 | 2.74 % | ||
| Current price | 16.95 | |||
| Support | S1 | 16.93 | -0.118% | |
| S2 | 15.75 | -7.08% | ||
| S3 | 15.00 | -11.51% |
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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