Grayscale Horizen Trust (zen) Trust Forecast

Strong day for Grayscale Horizen Trust (zen) trust price on Tuesday rising 12.17% to $3.87
(Updated on Jun 25, 2024)

HZEN Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 12.17%. Further rise is indicated until a new top pivot has been found. Grayscale Horizen Trust (zen) 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 Horizen Trust (zen) trust 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 $3.88 and $4.97. 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).

Support, Risk & Stop-loss for Grayscale Horizen Trust (zen) trust

Grayscale Horizen Trust (zen) finds support from accumulated volume at $3.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This trust may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this trust is considered to be "very high risk". During the last day, the trust moved $0.210 between high and low, or 5.65%. For the last week, the trust has had daily average volatility of 7.71%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HZEN) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Grayscale Horizen Trust (zen) to open at $3.84, and during the day (based on 14 day Average True Range), to move between $3.33 and $4.41, which gives a possible trading interval of +/-$0.542 (+/-14.01%) up or down from last closing price. If Grayscale Horizen Trust (zen) takes out the full calculated possible swing range there will be an estimated 28.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.70 (4.39%) than the resistance at $4.33 (11.89%), 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 Horizen Trust (zen) trust A Buy?

Grayscale Horizen Trust (zen) holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust. We have upgraded our analysis conclusion for this trust since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.727 Sell Candidate Upgraded

Predicted Opening Price for Grayscale Horizen Trust (zen) of Wednesday, June 26, 2024

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