Volatile ride for Zomedica stock price on Wednesday moving between $0.263 and $0.335

The Zomedica stock price fell by -11.07% on the last day (Wednesday, 18th Jan 2023) from $0.301 to $0.268. During the last trading day the stock fluctuated 27.38% from a day low at $0.263 to a day high of $0.335. The price has risen in 7 of the last 10 days and is up by 66.77% over the past 2 weeks. Volume has increased on the last day by 15 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 45 million shares were bought and sold for approximately $12.05 million.

Dawson James is very positive about ZOM and gave it a "" rating on Jan 06, 2023. The price target was set to 6.Over the last 90 days, this security got 1 buy, 0 sell, and 0 hold ratings.

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 -6.43% during the next 3 months and, with a 90% probability hold a price between $0.144 and $0.281 at the end of this 3-month period.

The Zomedica 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 $0.258 and $0.199. 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, January 17, 2023, and so far it has fallen -11.07%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $0.250 and $0.234.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zomedica finds support just below today's level at $0.250. If this is broken, then the next support from accumulated volume will be at $0.234 and $0.230.

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 $0.0720 between high and low, or 27.38%. For the last week, the stock has had daily average volatility of 13.80%.

Zomedica 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.