Zentalis Pharmaceuticals Inc. Stock Forecast
Zentalis Pharmaceuticals Inc. stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Zentalis Pharmaceuticals Inc. stock price gained 3.35% on the last trading day (Friday, 19th Apr 2024), rising from $12.54 to $12.96. During the last trading day the stock fluctuated 6.26% from a day low at $12.30 to a day high of $13.07. The price has fallen in 7 of the last 10 days and is down by -14.06% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 330 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $13.06 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $12.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.41% during the next 3 months and, with a 90% probability hold a price between $14.42 and $19.38 at the end of this 3-month period.
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ZNTL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.35%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zentalis Pharmaceuticals 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 $13.03 and $14.33. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zentalis Pharmaceuticals Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $11.59 and $11.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zentalis Pharmaceuticals Inc. finds support just below today's level at $11.59. If this is broken, then the next support from accumulated volume will be at $11.50 and $10.83.
This stock may move much during the 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 $0.770 between high and low, or 6.26%. For the last week, the stock has had daily average volatility of 5.12%.
Our recommended stop-loss: $12.30 (-5.09%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ZNTL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Zentalis Pharmaceuticals Inc. to open at $12.78, and during the day (based on 14 day Average True Range), to move between $11.99 and $13.93, which gives a possible trading interval of +/-$0.97 (+/-7.52%) up or down from last closing price. If Zentalis Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 15.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.41 (3.47%) than the support at $11.59 (10.57%), 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 Zentalis Pharmaceuticals Inc. stock A Buy?
Zentalis Pharmaceuticals Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.922 Hold/Accumulate Upgraded
Predicted Opening Price for Zentalis Pharmaceuticals Inc. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $12.78 ( 1.41%) | $12.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZNTL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.55 | 4.53 % | |
| R2 | 13.25 | 2.26 % | ||
| R1 | 13.07 | 0.85 % | ||
| Current price: | 12.96 | |||
| Support | S1 | 12.48 | -3.68 % | |
| S2 | 12.30 | -5.09 % | ||
| S3 | 12.01 | -7.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.49 | 19.52 % | |
| R2 | 14.32 | 10.49 % | ||
| R1 | 13.41 | 3.47 % | ||
| Current price | 12.96 | |||
| Support | S1 | 11.59 | -10.57% | |
| S2 | 11.50 | -11.27% | ||
| S3 | 10.83 | -16.44% |
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