Zambeef Products Stock Forecast
Zambeef Products stock price down 4.17% on Wednesday
(Updated on Apr 24, 2024)
The Zambeef Products stock price fell by -4.17% on the last day (Wednesday, 24th Apr 2024) from £6.00 to £5.75. During the last trading day the stock fluctuated 3.48% from a day low at £5.75 to a day high of £5.95. The price has been going up and down for this period, and there has been a -4.17% 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 -324 thousand shares and in total, 116 thousand shares were bought and sold for approximately £667.48 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zambeef Products stock with a 90% probability to be traded between £5.52 and £6.03 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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ZAM.L 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 Zambeef Products stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £5.87 and £5.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -4.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should fall by -12.17% to £5.05 within 4 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Zambeef Products stock
Zambeef Products finds support from accumulated volume at £5.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved £0.200 between high and low, or 3.48%. For the last week the stock has had daily average volatility of 3.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZAM.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Zambeef Products to open at £5.82, and during the day (based on 14 day Average True Range), to move between £5.51 and £5.99, which gives a possible trading interval of +/-£0.242 (+/-4.21%) up or down from last closing price. If Zambeef Products takes out the full calculated possible swing range there will be an estimated 8.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £5.80 (0.87%) than the support at £5.70 (0.87%), 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 Zambeef Products stock A Buy?
Zambeef Products holds several negative signals and is within a 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: -3.022 Sell Candidate Unchanged
Predicted Opening Price for Zambeef Products of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £5.82 ( 1.16%) | £5.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZAM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.02 | 4.64 % | |
| R2 | 5.94 | 3.31 % | ||
| R1 | 5.89 | 2.49 % | ||
| Current price: | 5.75 | |||
| Support | S1 | 5.74 | -0.169 % | |
| S2 | 5.69 | -0.99 % | ||
| S3 | 5.62 | -2.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.00 | 4.35 % | |
| R2 | 5.98 | 3.91 % | ||
| R1 | 5.80 | 0.87 % | ||
| Current price | 5.75 | |||
| Support | S1 | 5.70 | -0.87% | |
| S2 | 5.65 | -1.74% | ||
| S3 | 5.55 | -3.48% |
ZAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2011 | Dec 22, 2011 | Dec 22, 2011 | £0.450 | 0.93% |
| 2 | Dec 21, 2011 | Dec 21, 2011 | Dec 21, 2011 | £2,140.00 | 4,412.37% |
FAQ
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