High volatility in Zomedica Pharmaceuticals Corp stock price on Monday which ended trading at $0.97StockInvest.us, 4 months ago
The Zomedica Pharmaceuticals Corp stock price gained 6.30% on the last trading day (Monday, 7th Jun 2021), rising from $0.91 to $0.97. During the day the stock fluctuated 10.87% from a day low at $0.91 to a day high of $1.01. The price has been going up and down for this period, and there has been a 17.89% gain for the last 2 weeks. Volume fell on the last day by -5 million shares and in total, 57 million shares were bought and sold for approximately $55.11 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
HC Wainwright is very positive about ZOM and gave it a "Buy" rating on November 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 -56.92% during the next 3 months and, with a 90% probability hold a price between $0.15 and $0.48 at the end of this 3-month period.
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 $0.89 and $0.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 34.23%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.92 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 $0.0990 between high and low, or 10.87%. For the last week, the stock has had a daily average volatility of 13.37%.
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 candidate.Check full Zomedica Pharmaceuticals Corp forecast and analysis here.