14-day Premium Trial Subscription Sign Up For FreeGet Free

Big movements in Zomedica Pharmaceuticals Corp stock price on Thursday moving 12.09% between high and low

StockInvest.us, 2 months ago


The Zomedica Pharmaceuticals Corp stock price gained 11.58% on the last trading day (Thursday, 4th Nov 2021), rising from $0.52 to $0.58. During the day the stock fluctuated 12.09% from a day low at $0.54 to a day high of $0.60. The price has risen in 6 of the last 10 days and is up by 13.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $32.01 million.

HC Wainwright is very positive about ZOM and gave it a "Buy" rating on Nov 16, 2020. The price target was changed from $0.50 to $0.30.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -7.23% during the next 3 months and, with a 90% probability hold a price between $0.38 and $0.60 at the end of this 3-month period.

Zomedica Pharmaceuticals Corp

Mostly positive signals in the chart today. The Zomedica Pharmaceuticals Corp stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.52 and $0.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, September 20, 2021, and so far it has risen 17.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.57 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0647 between high and low, or 12.09%. For the last week the stock has had a daily average volatility of 5.32%.

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Check full Zomedica Pharmaceuticals Corp forecast and analysis here.