Ermenegildo Zegna N.V. Stock Forecast
Green day on Tuesday for Ermenegildo Zegna N.V. stock after gaining 1.71%
(Updated on Apr 23, 2024)
The Ermenegildo Zegna N.V. stock price gained 1.71% on the last trading day (Tuesday, 23rd Apr 2024), rising from $11.72 to $11.92. During the last trading day the stock fluctuated 3.71% from a day low at $11.60 to a day high of $12.03. The price has risen in 5 of the last 10 days but is still down by -0.75% for this period. Volume fell on the last day by -11 thousand shares and in total, 778 thousand shares were bought and sold for approximately $9.27 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ermenegildo Zegna N.V. stock with a 90% probability to be traded between $11.09 and $15.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ZGN Signals & Forecast
There are mixed signals in the stock today. The Ermenegildo Zegna N.V. stock 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 stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.46. On a fall, the stock will find some support from the short-term average at $11.47. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 8.27%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Ermenegildo Zegna N.V. stock
Ermenegildo Zegna N.V. finds support from accumulated volume at $11.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.430 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZGN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Ermenegildo Zegna N.V. to open at $11.85, and during the day (based on 14 day Average True Range), to move between $11.46 and $12.38, which gives a possible trading interval of +/-$0.459 (+/-3.85%) up or down from last closing price. If Ermenegildo Zegna N.V. takes out the full calculated possible swing range there will be an estimated 7.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.96 (0.34%) than the support at $11.67 (2.10%), 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 Ermenegildo Zegna N.V. stock A Buy?
Ermenegildo Zegna N.V. 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 stock.
Current score: -1.541 Sell Candidate Unchanged
Predicted Opening Price for Ermenegildo Zegna N.V. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $11.85 ( 0.587%) | $11.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.28 | 3.02 % | |
| R2 | 12.12 | 1.64 % | ||
| R1 | 12.01 | 0.791 % | ||
| Current price: | 11.92 | |||
| Support | S1 | 11.69 | -1.97 % | |
| S2 | 11.58 | -2.82 % | ||
| S3 | 11.42 | -4.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.62 | 22.65 % | |
| R2 | 12.17 | 2.10 % | ||
| R1 | 11.96 | 0.336 % | ||
| Current price | 11.92 | |||
| Support | S1 | 11.67 | -2.10% | |
| S2 | 11.65 | -2.27% | ||
| S3 | 11.34 | -4.87% |
ZGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jul 05, 2023 | Jul 28, 2023 | $0.109 | 0.697% |
| 2 | May 24, 2022 | Jul 05, 2022 | Jul 28, 2022 | $0.0940 | 0.85% |
FAQ
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