Zhone Technologies Inc Stock Forecast
Volatile ride for Zhone Technologies Inc stock price on Thursday moving between $1.06 and $1.19
(Updated on Apr 18, 2024)
The Zhone Technologies Inc stock price fell by -7.76% on the last day (Thursday, 18th Apr 2024) from $1.16 to $1.07. During the last trading day the stock fluctuated 11.79% from a day low at $1.06 to a day high of $1.19. The price has fallen in 7 of the last 10 days and is down by -18.94% for this period. Volume has increased on the last day by 57 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 129 thousand shares were bought and sold for approximately $138.39 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.06 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.47% during the next 3 months and, with a 90% probability hold a price between $0.789 and $0.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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DZSI Signals & Forecast
There are few to no technical positive signals at the moment. The Zhone Technologies Inc 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 $1.21 and $1.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -27.70%. 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). Zhone Technologies Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Zhone Technologies Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.125 between high and low, or 11.79%. For the last week, the stock has had daily average volatility of 12.17%.
Zhone Technologies Inc is oversold on RSI14 (23). 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 (DZSI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Zhone Technologies Inc to open at $1.11, and during the day (based on 14 day Average True Range), to move between $0.97 and $1.17, which gives a possible trading interval of +/-$0.100 (+/-9.35%) up or down from last closing price. If Zhone Technologies Inc takes out the full calculated possible swing range there will be an estimated 18.71% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.18, some $0.110 (10.28%) from the current price of $1.07, our system finds the risk reward not very attractive.
Is Zhone Technologies Inc stock A Buy?
Zhone Technologies Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -6.772 Strong Sell Candidate Downgraded
Predicted Opening Price for Zhone Technologies Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.11 ( 3.27%) | $1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DZSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.23 | 14.95 % | |
| R2 | 1.18 | 10.49 % | ||
| R1 | 1.15 | 7.73 % | ||
| Current price: | 1.07 | |||
| Support | S1 | 1.06 | -1.19 % | |
| S2 | 1.03 | -3.95 % | ||
| S3 | 0.98 | -8.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.31 | 22.43 % | |
| R2 | 1.29 | 20.56 % | ||
| R1 | 1.18 | 10.28 % | ||
| Current price | 1.07 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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