Volatile ride for Zomedica Pharmaceuticals Corp stock price on Thursday moving between $0.37 and $0.50

The Zomedica Pharmaceuticals Corp stock price gained 5.26% on the last trading day (Thursday, 17th Feb 2022), rising from $0.38 to $0.40. , and has now gained 4 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 35.14% from a day low at $0.37 to a day high of $0.50. The price has been going up and down for this period, and there has been a 36.88% 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, 93 million more shares were traded than the day before. In total, 137 million shares were bought and sold for approximately $54.77 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.

Given the current short-term trend, the stock is expected to fall -22.52% during the next 3 months and, with a 90% probability hold a price between $0.20 and $0.31 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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 $0.32 and $0.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 42.94%. 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 $0.38 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 $0.13 between high and low, or 35.14%. For the last week, the stock has had a daily average volatility of 16.05%.

Zomedica Pharmaceuticals Corp holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Zomedica Pharmaceuticals Corp stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.