Zentalis Pharmaceuticals Inc. Stock Forecast
Zentalis Pharmaceuticals Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Zentalis Pharmaceuticals Inc. stock price fell by -1.77% on the last day (Thursday, 2nd May 2024) from $11.31 to $11.11. During the last trading day the stock fluctuated 9.59% from a day low at $10.95 to a day high of $12.00. The price has been going up and down for this period, and there has been a -11.4% 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 -398 thousand shares and in total, 619 thousand shares were bought and sold for approximately $6.88 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.96 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Zentalis Pharmaceuticals Inc. stock with a 90% probability to be traded between $10.80 and $15.79 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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ZNTL Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.14%. Further rise is indicated until a new top pivot has been found. 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 $11.25 and $13.51. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Zentalis Pharmaceuticals Inc. stock
Zentalis Pharmaceuticals Inc. finds support from accumulated volume at $11.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.05 between high and low, or 9.59%. For the last week, the stock has had daily average volatility of 7.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZNTL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Zentalis Pharmaceuticals Inc. to open at $11.35, and during the day (based on 14 day Average True Range), to move between $10.19 and $12.03, which gives a possible trading interval of +/-$0.92 (+/-8.29%) up or down from last closing price. If Zentalis Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 16.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.06 (0.45%) than the resistance at $11.50 (3.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Zentalis Pharmaceuticals Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.85. We will update the financials statements for Zentalis Pharmaceuticals Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.26% in the first trading day after earnings release.
Is Zentalis Pharmaceuticals Inc. stock A Buy?
Zentalis Pharmaceuticals Inc. holds several negative signals and is within a very 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 Hold/Accumulate to a Sell candidate.
Current score: -4.029 Sell Candidate Downgraded
Predicted Opening Price for Zentalis Pharmaceuticals Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $11.35 ( 2.19%) | $11.11 |
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 | 12.40 | 11.64 % | |
| R2 | 12.00 | 8.03 % | ||
| R1 | 11.75 | 5.80 % | ||
| Current price: | 11.11 | |||
| Support | S1 | 10.95 | -1.42 % | |
| S2 | 10.70 | -3.65 % | ||
| S3 | 10.30 | -7.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.82 | 24.39 % | |
| R2 | 13.41 | 20.70 % | ||
| R1 | 11.50 | 3.51 % | ||
| Current price | 11.11 | |||
| Support | S1 | 11.06 | -0.450% | |
| S2 | 10.99 | -1.13% | ||
| S3 | 10.83 | -2.52% |
FAQ
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