Ermenegildo Zegna N.V. Stock Forecast

Ermenegildo Zegna N.V. stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)

ZGN Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $12.95. On a fall, the stock will find some support from the short-term average at $12.34. 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 02, 2024, and so far it has fallen -0.781%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Ermenegildo Zegna N.V. stock

Ermenegildo Zegna N.V. finds support from accumulated volume at $12.17 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 $0.310 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.71%.

The Ermenegildo Zegna N.V. stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.

Our recommended stop-loss: $12.38 (-2.60%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (ZGN) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Ermenegildo Zegna N.V. to open at $12.80, and during the day (based on 14 day Average True Range), to move between $12.31 and $13.11, which gives a possible trading interval of +/-$0.395 (+/-3.11%) 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 6.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.17 (4.25%) than the resistance at $14.20 (11.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ermenegildo Zegna N.V. stock A Buy?

Ermenegildo Zegna N.V. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.767 Hold/Accumulate Downgraded

Predicted Opening Price for Ermenegildo Zegna N.V. of Monday, May 6, 2024

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