Grayscale Horizen Trust (zen) Trust Forecast
Big movements in Grayscale Horizen Trust (zen) trust price on Friday moving 37.53% between high and low
(Updated on Jun 28, 2024)
The Grayscale Horizen Trust (zen) trust price fell by -11.38% on the last day (Friday, 28th Jun 2024) from $5.01 to $4.44. During the last trading day the trust fluctuated 37.53% from a day low at $4.05 to a day high of $5.57. The price has fallen in 6 of the last 10 days and is down by -3.48% for this period. Volume has increased on the last day by 7 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, 16 thousand shares were bought and sold for approximately $71.14 thousand.
The trust lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the trust is expected to fall -29.47% during the next 3 months and, with a 90% probability hold a price between $2.09 and $4.38 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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HZEN Signals & Forecast
There are mixed signals in the trust today. The Grayscale Horizen Trust (zen) trust 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 trust giving a more negative forecast for the stock. On further gains, the trust will meet resistance from the long-term Moving Average at $4.99. On a fall, the trust will find some support from the short-term average at $4.11. 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 was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -11.38%. Further fall is indicated until a new bottom pivot has been found. Grayscale Horizen Trust (zen) 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. Furthermore, there is a buy 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 $4.40 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 $1.52 between high and low, or 37.53%. For the last week, the trust has had daily average volatility of 16.50%.
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 Monday 1st
For the upcoming trading day on Monday, 1st we expect Grayscale Horizen Trust (zen) to open at $4.69, and during the day (based on 14 day Average True Range), to move between $3.80 and $5.08, which gives a possible trading interval of +/-$0.640 (+/-14.42%) 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 28.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.40 (0.90%) than the resistance at $4.60 (3.60%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Buy to a Sell candidate.
Current score: -3.990 Sell Candidate Downgraded
Predicted Opening Price for Grayscale Horizen Trust (zen) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $4.69 ( 5.56%) | $4.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HZEN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.21 | 39.79% |
| R2 | 5.63 | 26.71% |
| R1 | 5.27 | 18.63% |
| Price | 4.44 | |
| S1 | 4.11 | -7.52% |
| S2 | 3.75 | -15.60% |
| S3 | 3.17 | -28.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.45 | 22.75% |
| R2 | 4.61 | 3.83% |
| R1 | 4.60 | 3.60% |
| Price | 4.44 | |
| S1 | 4.40 | -0.90% |
| S2 | 4.33 | -2.48% |
| S3 | 3.68 | -17.12% |
FAQ
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