Ermenegildo Zegna N.V. Stock Forecast
Red day on Tuesday for Ermenegildo Zegna N.V. stock after losing 1.46%
(Updated on Jul 02, 2024)
The Ermenegildo Zegna N.V. stock price fell by -1.46% on the last day (Tuesday, 2nd Jul 2024) from $11.67 to $11.50. During the last trading day the stock fluctuated 2.66% from a day low at $11.45 to a day high of $11.75. The price has been going up and down for this period, and there has been a -2.29% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 thousand shares and in total, 212 thousand shares were bought and sold for approximately $2.44 million.
The stock is moving within a 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 $10.64 and $12.87 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 few to no technical positive signals at the moment. The Ermenegildo Zegna N.V. stock 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 $11.75 and $12.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -12.81%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ermenegildo Zegna N.V. stock
Ermenegildo Zegna N.V. finds support from accumulated volume at $11.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.305 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 1.91%.
Ermenegildo Zegna N.V. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 3rd
For the upcoming trading day on Wednesday, 3rd we expect Ermenegildo Zegna N.V. to open at $11.57, and during the day (based on 14 day Average True Range), to move between $11.22 and $11.78, which gives a possible trading interval of +/-$0.281 (+/-2.44%) 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 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.46 (0.35%) than the resistance at $11.67 (1.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ermenegildo Zegna N.V. will release earnings BMO on Friday, July 05, 2024. We will update the financials statements for Ermenegildo Zegna N.V., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.69% in the first trading day after earnings release.
Is Ermenegildo Zegna N.V. stock A Buy?
Ermenegildo Zegna N.V. holds several negative signals and is within a 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 stock.
Current score: -2.778 Sell Candidate Unchanged
Predicted Opening Price for Ermenegildo Zegna N.V. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $11.57 ( 0.565%) | $11.50 |
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 | |
|---|---|---|
| R3 | 11.87 | 3.22% |
| R2 | 11.75 | 2.20% |
| R1 | 11.68 | 1.58% |
| Price | 11.50 | |
| S1 | 11.45 | -0.448% |
| S2 | 11.38 | -1.07% |
| S3 | 11.26 | -2.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.17 | 5.83% |
| R2 | 11.96 | 4.00% |
| R1 | 11.67 | 1.48% |
| Price | 11.50 | |
| S1 | 11.46 | -0.348% |
| S2 | 11.31 | -1.65% |
| S3 | 11.01 | -4.26% |
ZGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 21, 2024 | Jul 05, 2024 | Jul 30, 2024 | $0.120 | 1.04% |
| 2 | Jun 30, 2023 | Jul 05, 2023 | Jul 28, 2023 | $0.109 | 0.697% |
| 3 | May 24, 2022 | Jul 05, 2022 | Jul 28, 2022 | $0.0940 | 0.85% |
FAQ
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