ZYNE - Zynerba Pharmaceuticals Fri 20'th Jan 2017
Stock analysis for Fri 20'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-20
Zynerba Pharmaceuticals Stock Analysis
Zynerba Pharmaceuticals gained 0.06% in the last trading day, rising from USD 18.11 to USD 18.12. The price has been going up and down for this period, and there has been a -5.62% loss for the last 2 weeks. Volume fell in the last day by -3 049 206 shares and ,in total, 445 528 shares bought and sold for approximately USD 8.07 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Zynerba Pharmaceuticals lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 51.5% during the next 3 months and, with 90% probability hold a price between USD 25.04 and USD 34.41 at the end of this period.
Only positive signals in the chart today. Zynerba Pharmaceuticals holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately USD 19.33. On a fall, the stock will find some support from the long-term average at approximately USD 16.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. A buy signal was issued from a pivot bottom point on Thursday January 19, 2017, which indicates further gains 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 may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 58 and the stock is currently not being overbought or oversold
Support & Resistance
Zynerba Pharmaceuticals finds support from accumulated volume at USD 18.11, USD 15.73, and USD 15.33. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 18.85, USD 19.80 and USD 22.46.
The stock is about to test the resistance from accumulated volume at USD 18.85 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
This stock may move much during a 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 USD 0.58 between high and low, or 3.22%. For the last week, the stock has had a daily average volatility of 8.91%.
Our recommended stoploss: USD 17.57 (-3.04%) ( based on support and risk)
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.