ZGN Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Ermenegildo Zegna NV (ZGN) is currently trading near its 52-week low, with a price of $7.31 as of the latest data. The stock has entered oversold territory, with an RSI of 29.3, indicating potential exhaustion of selling pressure and a possible reversal.
Fibonacci Levels:
The Fibonacci levels suggest key resistance and support points:
- Pivot Point: $7.45
- Resistance Levels: $7.71 (R1), $7.86 (R2)
- Support Levels: $7.20 (S1), $7.05 (S2)
These levels indicate that the stock is currently trading near the lower end of its recent range, with potential upside to the pivot point and resistance levels.
Analyst Sentiment:
Analysts have mixed opinions on ZGN. TD Cowen analyst Oliver Chen maintains a Hold rating with a price target of $10.00, while the consensus rating is a Moderate Buy with a target of $9.97.
Conclusion:
Based on the oversold condition and potential for a technical bounce, the stock is likely to see a short-term recovery. The target price for the next trading week is $7.80, with a stop-loss recommended at $7.00.
Recommendation: Buy ZGN with a target price of $7.80.
ZGN Similar Chart Price Prediction
The price of ZGN is predicted to go up -30.1%, based on the high correlation periods with TPB. The similarity of these two price pattern on the periods is 98.79%.
ZGN
TPB
Down: -30.1%Similarity: 98.79%
ZGN Revenue Forecast
ZGN EPS Forecast
ZGN Analyst's Forecast
Daria Nasledysheva
B of A Securities
Hold → Strong Buy
2025-01-16
Price Target
$9.4 → $8.9
Upside
+9.61%
BofA upgraded Ermenegildo Zegna to Buy from Neutral with a price target of $8.90, down from $9.40. Zegna "remains one of the more undervalued stories in luxury," argues the analyst, who thinks the market remains "quite complacent" around the shift in the geographic revenue mix that happened at Zegna and Zegna brand outperformance in developed markets.
Natasha Bonnet
Morgan Stanley
Sell
2024-11-22
Price Target
$7.2
Downside
-6.49%
