Very red day for Zomedica Pharmaceuticals Corp stock price after -7.13% fall in Wednesday trading sessionStockInvest.us, 2 months ago
The Zomedica Pharmaceuticals Corp stock price fell by -7.13% on the last day (Wednesday, 2nd Mar 2022) from $0.40 to $0.37. During the day the stock fluctuated 8.75% from a day low at $0.36 to a day high of $0.39. The price has risen in 6 of the last 10 days and is up by 23.32% over the past 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 -8 million shares and in total, 17 million shares were bought and sold for approximately $6.17 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 -4.47% during the next 3 months and, with a 90% probability hold a price between $0.26 and $0.38 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. 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 $0.36 and $0.33. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 01, 2022, and so far it has fallen -7.13%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Zomedica Pharmaceuticals Corp finds support from accumulated volume at $0.36 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0316 between high and low, or 8.75%. For the last week, the stock has had a daily average volatility of 16.00%.
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.Check full Zomedica Pharmaceuticals Corp forecast and analysis here.