Grayscale Decentraland Trust Trust Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Grayscale Decentraland Trust as trust downgraded to Strong Sell Candidate.
(Updated on Jun 28, 2024)
The Grayscale Decentraland Trust trust price fell by -2.58% on the last day (Friday, 28th Jun 2024) from $20.53 to $20.00. During the last trading day the trust fluctuated 2.65% from a day low at $20.00 to a day high of $20.53. The price has fallen in 6 of the last 10 days and is down by -13.04% for this period. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -489 shares and in total, 814 shares were bought and sold for approximately $16.28 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 -38.22% during the next 3 months and, with a 90% probability hold a price between $3.87 and $16.05 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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MANA Signals & Forecast
There are mixed signals in the trust today. The Grayscale Decentraland Trust 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 $24.09. On a fall, the trust will find some support from the short-term average at $19.45. 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, May 30, 2024, and so far it has fallen -36.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this trust may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Grayscale Decentraland Trust trust
Grayscale Decentraland Trust finds support from accumulated volume at $19.35 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 periodic low trading volume this trust is considered to be "very high risk". During the last day, the trust moved $0.530 between high and low, or 2.65%. For the last week the trust has had daily average volatility of 1.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MANA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Grayscale Decentraland Trust to open at $20.18, and during the day (based on 14 day Average True Range), to move between $18.38 and $21.62, which gives a possible trading interval of +/-$1.62 (+/-8.08%) up or down from last closing price. If Grayscale Decentraland Trust takes out the full calculated possible swing range there will be an estimated 16.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.40 (2.00%) than the support at $19.35 (3.25%), 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 Decentraland Trust trust A Buy?
Grayscale Decentraland Trust 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 Hold/Accumulate to a Strong Sell candidate.
Current score: -5.755 Strong Sell Candidate Downgraded
Predicted Opening Price for Grayscale Decentraland Trust of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $20.18 ( 0.88%) | $20.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.71 | 3.53% |
| R2 | 20.50 | 2.52% |
| R1 | 20.38 | 1.90% |
| Price | 20.00 | |
| S1 | 19.97 | -0.129% |
| S2 | 19.85 | -0.754% |
| S3 | 19.65 | -1.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.50 | 12.50% |
| R2 | 21.10 | 5.50% |
| R1 | 20.40 | 2.00% |
| Price | 20.00 | |
| S1 | 19.35 | -3.25% |
| S2 | 18.00 | -10.00% |
| S3 | 16.80 | -16.00% |
FAQ
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