High volatility in Zomedica Pharmaceuticals Corp stock price on Thursday which ended trading at $0.97StockInvest.us, 1 year ago
The Zomedica Pharmaceuticals Corp stock price gained 14.13% on the last trading day (Thursday, 3rd Jun 2021), rising from $0.85 to $0.97. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 27.71% from a day low at $0.83 to a day high of $1.06. The price has been going up and down for this period, and there has been a 22.01% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 91 million more shares were traded than the day before. In total, 145 million shares were bought and sold for approximately $139.98 million.
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 -57.69% during the next 3 months and, with a 90% probability hold a price between $0.16 and $0.48 at the end of this 3-month period.
The Zomedica Pharmaceuticals Corp stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.84 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 34.46%. 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 is rising along with the price. This is considered to be a good technical signal.
Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.23 between high and low, or 27.71%. For the last week, the stock has had a daily average volatility of 10.92%.
Zomedica Pharmaceuticals Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Zomedica forecast and analysis here.